Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Affordable Housing Agreement for HOME Funds Purpose: To authorize the execution of a Deed Restrictive HOME Affordable Housing Agreement. Entity Name: Thomas Street Urban Renewal, LLC Entity Address: 300 Wilson Avenue, Newark, New Jersey 07105 Grant Amount: $2,200,000.00 Funding Source: Federal HOME Program Funds Contract Period: HOME Program Funds must be expended within forty-eight (48) months from the date of adoption Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale (X) Grant ( ) Sub-recipient ( ) n/a List of Property: (Address/Block/Lot/Ward) 184-194 Thomas Street/Block 1164, Lot 11/East Ward Additional Information: To construct a new five-story residential affordable housing building that will consist of (52) senior age-restricted affordable residential rental units, (11) shall be designated by the City as HOME Program deed-restricted affordable housing units for use and occupancy by extremely low-income senior citizens and elderly persons and households earning 30% or less of Area Median Income (AMI), for property located at 184-194 Thomas Street (East Ward).

What this record is

Held by

Thomas Street Urban Renewal, LLC 2 records across this site

Amount

$2.20M

Runs until

Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗

Type

amendment

Field

Construction

construction contracts in NJ that end within a year →
Governments publish the end date in the award. That date is when the work goes back out to bid, and it is usually stated years ahead.

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Thomas Street Urban Renewal, LLC also holds

Dept./Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Grant Agreement Purpose: To provide… $300K Newark, NJ

Committee

Economic and Housing Development

Introduced

June 14, 2024

On agenda

July 10, 2024

Passed

July 10, 2024

Where it was heard

Municipal Council Jul 10, 2024 Adopt Pass

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