Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Affordable Housing Agreement Purpose: HOME Program funds to subsidize the construction costs of eleven (11) units within the eighty-eight residential (88) units, five story mixed-use, mixed-income, multi-family rental project. Units assisted with HOME program funds must be occupied by low and very low income households Entity Name: Downtown Partners Urban Renewal Associates, LPEntity Address: 77 Park Street, Montclair, New Jersey 07042 Grant Amount: $1,057,652.00 Funding Source: HUD, HOME Funding Contract Period: Two years from the date of adoption of this authorizing resolution by the Municipal Council Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient ( X ) n/a List of Property: (Address/Block/Lot/Ward) 999-1005 Broad Street/ /Block 111/ Lot 70/ Central Ward Additional Information: Project Name: 999 Broad Street Phase I Project