7R2-p 24-0508 Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Execute and Approve a Modified Affordable Housing Agreement, Note and Mortgage for HOME Funds Purpose: To authorize the execution and approval of a modified Affordable Housing Agreement with Southside View, LLC to construct a new multi-family residential and affordable housing development consisting of forty (40) affordable housing rental units (7 HOME subsidized by the City), upon property located at 654-668 South 11th Street (Block 2617, Lots 75, 74, 73, 72, 71, 70, 87, 69, 86, 88 and 85 (South Ward). Entity Name: Southside View, LLC Entity Address: 1212 Springfield Avenue, Irvington, New Jersey 07111 Grant Amount: $1,050,000.00 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) 654-668 South 11th Street (Block 2617, Lots 75, 74, 73, 72, 71, 70, 87, 69, 86, 88 and 85 (South Ward) Additional Information: