Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Execute Affordable Housing Agreement for HOME funds. Purpose: To authorize the execution of a HOME Affordable Housing Agreement with Rising Plains Urban Renewal LLC to develop and construct a new four-story 19-unit affordable and supportive housing development consisting of three (3) studio units, six (6) one-bedroom units, ten (10) two-bedroom units (6 HOME subsidized) upon the property located at 475-481 South 16th Street (Block 327; Lot 15) of the Tax Map of the City of Newark, County of Essex, State of New Jersey (West Ward) of the Tax Map of the City of Newark, County of Essex, State of New Jersey Entity Name: Rising Plains Urban Renewal LLC Entity Address: 1515 Morris Plains, Hillside, New Jersey 07205 Grant Amount: $525,000.00 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) 475-481 South 16th Street (Block 327; Lot 15) of the Tax Map of the City of Newark, County of Essex, State of New Jersey (West Ward) Additional Information:

What this record is

Held by

Rising Plains Urban Renewal LLC

Amount

$525K

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.

Read automatically from the title of the official record. The source document below is authoritative.

Committee

Economic and Housing Development

Introduced

March 13, 2026

On agenda

April 15, 2026

Passed

April 15, 2026

Where it was heard

Municipal Council Apr 15, 2026 Adopt Pass

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