26-0921
Dept./ Agency: Economic and Housing Development Action: (X) Ratifying (X) Authorizing ( ) Amending Type of Service: Resolution of Support Purpose: To provide Municipal Council support, for the submission of an application, for tax credits sought by Developer, under the NJ Aspire Tax Credit Program to the New Jersey Economic Development Authority Entity Name: SWPN Development 1, LLC and Brick Family Village I, LLC Entity Address: 35 Halsey Street, Third Floor, Newark, New Jersey Total Project Cost: $137,665,418.00 City Contribution: $0.00 Other Funding Source/Amount: Traditional debt financing and equity funding Grant Period: Ten (10) years - Tax Credit Period, from project completion date 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 (Address/Block/Lot/Ward 137-139 Badger Avenue/Block 2681/Lot 1/South Ward 141-143 Badger Avenue/Block 2681/Lot 3/South Ward 145-153 Badger Avenue/Block 2681/Lot 5/South Ward 246 Jelliff Avenue/Block 2691/Lot 1.01/South Ward 248-250 Jelliff Avenue/Block 2691/Lot 1.02/South Ward 252 Jelliff Avenue/Block 2691/Lot 1.03/South Ward 254-256 Jelliff Avenue/Block 2691/Lot 1.04/South Ward 264-268 Jelliff Avenue/Block 2691/Lot 50/South Ward 258-262 Jelliff Avenue/Block 2691/Lot 53/South Ward Additional Information:
- Committee
- Economic and Housing Development
- Introduced
- June 16, 2026
- On agenda
- June 17, 2026
- Passed
- June 17, 2026