Dept/Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing (X) Amending Type of Service: Federal HUD HOME Loan Purpose: A Resolution authorizing a reduction in the number of subsidized and designated HOME Assisted Units and the execution of a First Amendment to the Deed Restrictive Affordable Housing Agreement with Washington Bay Group 1, LLC in connection with the construction of five (5) new two-family homes offered for sale consisting of a total of ten (10) three-bedroom residential rental units upon five (5) parcels of real property located at 719 South 11th Street (Block 2631, Lot 5), 721 South 11th Street (Block 2631, Lot 6), 723 South 11th Street (Block 2631, Lot 53), 725 South 11th Street (Block 2631, Lot 7), and 716-718 South 12th Street (Block 2631, Lot 2631) ( Ward) of the Tax Map of the City of Newark, County of Essex, State of New Jersey 07108. Entity Name: Washington Bay Group 1 LLC Entity Address: 811 Clinton Avenue, Newark, New Jersey 07108 Grant Amount: $550,000.00 Funding Source: Federal HUD HOME loan Contract Period: Agreement shall be for a period of twenty (20) years from the date when a certificate of occupancy has been issued by the City and the first low income eligible homebuyer occupies the HOME Assisted Units. 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: (if applicable) (Address/Block/Lot/Ward) 719 South 11th Street/Block 2631/Lot 5/South Ward 721 South 11th Street/Block 2631/Lot 6/South Ward 723 South 11th Street/Block 2631/Lot 53/South Ward 725 South 11th Street/Block 2631/Lot 7/South Ward 716-718 South 12th Street/Block 2631/Lot 2631/South Ward Additional Information:

What this record is

Held by

Washington Bay Group 1, LLC 3 records across this site

Amount

$550K

Runs until

January 12, 2046 19 years away date calculated from a contract term stated in the record, not quoted directly

Type

amendment

Field

Construction

construction contracts in NJ that end within a year →
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Washington Bay Group 1, LLC also holds

Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Execute Affordable Housing Agreemen… $550K Newark, NJ Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Private Sale/Redevelopment Purpose:… $93K Newark, NJ

Committee

Economic and Housing Development

Introduced

January 12, 2026

On agenda

February 4, 2026

Passed

February 4, 2026

Where it was heard

Municipal Council Feb 4, 2026 Adopt Pass

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