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: E. Gill Development, LLC Entity Address: 2 Center Street, 2103, Newark, New Jersey 07102 Grant Amount: $375,000.00 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) 63 South 12th Street/Block 1867, Lot 25/West Ward Additional Information: To construct a new residential affordable housing building that will consist of (3) three-bedroom residential rental units as HOME Assisted Units to be occupied by households and families who have annual incomes of 30% or less of Area Median Income (AMI) for property located at 63 South 12th Street (West Ward).

Resolution Adopted Introduced June 18, 2024

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