Dept/ Agency: Economic & Housing Development Action: ( X ) Ratifying (X) Authorizing ( ) Amending Type of Service: Pass Through Agreement Purpose: Support Loan from Economic Development Authority to Damascus Bakery NJ LLC in connection with a proposed purchase and renovation of an approximately 117,000 square foot building located at 60 McClellan Street in the City of Newark (the “Project”) P#36346 Entity Name: Damascus Bakery NJ LLC. Entity Address: Damascus Bakery, NJ, LLC, 56 Gold Street, Brooklyn, New York 11201. Grant Amount: $1,000,000. Funding Source: Entity providing funds Total Project Cost: $10,500,000.00 City Contribution: $ 0 Other Funding Source/Amount: /$ Contract Period: 5 year loan 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: (if applicable) (Address/Block/Lot/Ward) 60 McClellan Street/ Block 3775/ Lot 20/ South Ward Additional Information: