7R2-q 24-0504 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 the developer under the NJ Aspire Tax Credit Program to the New Jersey Economic Development Authority. Entity Name: MLK Gateway East Side Urban Renewal, LLC Entity Address: 141 West Front Street, Suite 410, Red Bank, New Jersey 07701 Grant Amount: $0.00 Total Project Cost: $39,338,206.00 City Contribution: $0.00 Other Funding Source/Amount: Traditional debt financing and equity funding Grant Period: 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 240-250 Martin Luther King Boulevard/Block 43/Lot 41/Additional Lot 46/Central Ward 236-238 Martin Luther King Boulevard/Block 43/Lot 48/Central Ward Additional Information: