Recommendation Reso for 408-420 Communipaw Avenue

Resolution of the City of Jersey City, N.J.

File No. Res. 20-061 Agenda No. 10.18 Approved: Jan 23 2020

RESOLUTION OF THE MUNICIPAL COUNCIL OF THE CITY OF JERSEY CITY TO AMEND COUNCIL RESOLUTION 15-576 THAT AUTHORIZED AN AFFORDABLE HOUSING TRUST FUND (AHTF) AGREEMENT WITH THE MORRIS CANAL REDEVELOPMENT AREA COMMUNITY DEVELOPMENT CORPORATION FOR 408-420 COMMUNIPAW AVENUE FOR ADDITIONAL PRE-DEVELOPMENT FUNDS. (PROGRAMING)

COUNCIL offered and moved adoption of the following resolution:

WHEREAS, on September 28, 2005 the City of Jersey City adopted Ordinance 05-130 amending and supplementing Chapter 304, Article VI (Long Term Tax Exemptions) of the Jersey City code that established an Affordable Housing Trust Fund (AHTF) from recipients of long term tax exemptions to adopt a spending plan; and

WHEREAS, said spending plan authorizes the City to enter into contract with for profit or non-profit entities, organized under state and federal law for the purpose of constructing affordable housing; and

WHEREAS, the City of Jersey City released a Request for Proposals (RFP) for Affordable Housing Trust Fund (AHTF), Community Development Block Grant (CDBG), and COAH Regional Contribution Agreement Recapture Funds (RCA) funding from August 31, 2018 to October 18, 2018; and

WHEREAS, the Affordable Housing Trust Fund Committee met on April 11, 2018, May 2, 2018, and June 13, 2019 to review applications for the AHTF RFP; and

WHEREAS, the eligible applicant must provide proof that it is the recipient of funds from other public or private source(s) that together with the Jersey City Division of Community Development will constitute sufficient funds to complete the proposed project; and

WHEREAS, Morris Canal Redevelopment Area Community Development Corporation (Developer) proposes a new construction project known as the Communipaw Crossing Project for affordable housing rental units for households at approximately 80% AMI ; and

WHEREAS, the Communipaw Crossing Project will be located at 408-420 Communipaw Ave, Jersey City, New Jersey, Block 25601 Lot 1; and

WHEREAS, Council Resolution 15-576 authorized the Developer to enter an Affordable Housing Trust Fund agreement of $100,000; and

WHEREAS, the Developer reapplied to the Affordable Housing Trust Fund committee and will be authorized a corrected amount of $200,000 in Affordable Housing Trust Funds, which is needed to complete the proposed project; and

WHEREAS, the total project cost for is approximately $17,191,998 and proposed financing will consist of the following sources: Jersey City AHTF - $200,000; developer equity - $210,000 and a construction loan - $700,000;

NOW, THEREFORE, BE IT RESOLVED by the Municipal Council of the City of Jersey City that:

1. The Mayor and/or Business Administrator is hereby authorized to enter into an Affordable Housing Trust Fund (AHTF) Contract, in substantially the form attached hereto with the Morris Canal Redevelopment Area Community Development Corporation for the construction of forty-four (44) housing rental units of which ten (10) units are designated as affordable housing rental units; and

Res. 20-061 Approved: January 23 2020

Resolution of the Municipal Council of the City of Jersey City to Amend Council Resolution 15-576 that Authorized an Affordable Housing Trust Fund (AHTF) Agreement with the Morris Canal Redevelopment Area Community Development Corporation for 408-420 Communipaw Avenue for Additional Pre-Development Funds. (Programing)

2. Subject to review and approval by Corporation Counsel, the Mayor or Business Administrator is hereby authorized to execute contracts and such other documents deemed necessary to secure loans under the Affordable Housing Trust Fund (AHTF) and the terms and conditions of the aforementioned documents may be negotiated by the Division of Community Development (DCD) and shall be in accordance with all laws, rules and regulations applicable to the program.

Res. 20-061 Approved: January 23 2020

APPROVED AS TO LEGAL FORM

Business Administrator Corporation Counsel

☐ Certification Required

RECORD OF COUNCIL VOTE – Jan 23 6-2 AYE NAY N.V. Absent AYE NAY N.V. Absent AYE NAY N.V. Absent N.V. – RIDLEY ✓ YUN ✓ LAVARRO ✓ (Abstain) PRINZ-AREY ✓ SOLOMON ✓ RIVERA ✓ BOGGIANO ✓ ROBINSON ✓ WATTERMAN, ✓ PRES Adopted at a meeting of the Municipal Council of the City of Jersey.

Rolando R. Lavarro, Jr., President of Council Robert Byrne, City Clerk

Res. 20-061 Approved: January 23 2020

RESOLUTION FACT SHEET - This summary sheet is to be attached to the front of any resolution that is submitted for Council consideration. Incomplete or vague fact sheets will be returned with the resolution.

Project Manager Alycia Cohen, tba 201-547-4583 [email protected] Division Division of Community Development

Note: Project Manager must be available by phone during agenda meeting (Wednesday prior to council meeting @ 1:00 p.m.)

Purpose To allow the City to amend the resolution 15-576 and contract with Morris Canal CDC. Morris Canal is a non-profit organization that has already received $100,000 for pre-development cost. Morris Canal has requested and was approved by the AHTF committee to receive an additional $100,000 for pre-development funds for the creation of a developmental plan for an affordable housing project located at 408-420 Communipaw Avenue, block 20001 lots 16- 22.

Cost (Identify all sources and amounts) Contract term (include all) Affordable Housing Trust Fund: $100,000 One (1) Year

Type of award: AHTF

ATTACHMENTS: Morris Canal Memo RESOLUTION for Communipaw Crossing 12.19 Fact Sheet - AHTF Morris Canal 403-420 Communipaw Ave Amended AHTF CONTRACT- Morris Canal - 408-420 Communipaw

Approved by Status: Carmen Gandulla, Coordinator of Federal/State Aid Approved - Dec 16 2019 Annisia Cialone, HEDC Director Approved - Dec 31 2019 John McKinney, Attorney None Peter Baker, Corporation Counsel None Amy Forman, Attorney None Nick Strasser, Attorney None Norma Garcia, Attorney None Ray Reddington, Attorney Approved - Jan 02 2020 Jeremy Jacobsen, Attorney None Sapana Shah, Attorney None Brian Platt, Business Administrator Approved - Jan 09 2020

M m randum

Members of the Municipal Council \

From: Alycia Cohen — Division of Communit Developme y Date: December 10, 2019 Subject: Resolution of the Municipal Council of the City of Jersey City Amending the Council Resolution 15-576 to provide additionalpre-developmentfunds from the Affordable Housing Trust Fund for the creation of ten (10) affordable units located at 408-420 Communipaw Avenue

Synopsis: The City of Jersey City Division of Community Development proposes to amend resolution 15-576 that authorizedthe City of Jersey City to go into contract with Morris Canal utilizing AHTF funds for the creation of 10 affordable units located at 408-420 Communipaw Avenue. Background: The Developer Morris Canal originally applied for Affordable Housing Trust Funds in 2014 for the creation of 44 units, 10 of which (20%) would be affordabl units. The Developer has had some issues with site controland specificseof the project details. Since the plans were approved over 2 years ago, the additional funds will be utilized for planning and professional services fees (architectural, legal, soft costs, etc.) to support the development of the project located at 408-420 Communipaw Avenue in Jersey City.

Scope: The Division is amending Resolution 15-576 and the AHTF committee has approved additional funds be awarded to the Developer for the creation of the subject project, in the amount of $100,000.

Should you have any questions or concerns regarding the contents of the memorandum,please contact me at (201) 547-4583. RESOLUTION TO AMEND COUNCIL RESOLUTION 15-576 AUTHORIZING AFFORDABLE HOUSING TRUST FUND (AHTF) CONTRACT WITH MORRIS CANAL CDC- 408-420 COMMUNIPAW AVE

WHEREAS, the Affordable Housing Trust Fund Committee met on April 11, 2018, May 2, 2018, and June 13, 2019 to review applications for the AHTF RFP; and

WHEREAS, Morris Canal CDC – Communipaw Crossing proposes new construction for affordable units for households at approximately 80% AMI; and

WHEREAS, Communipaw Crossing project will be located at 408-420 Communipaw Ave, Jersey City, New Jersey, Block 25601 Lot 1; and

WHEREAS, Council Resolution 15-576 authorized the Developer to enter an Affordable Housing Trust Fund agreement of $100,000; and

WHEREAS, the total project cost for is approximately $17,191,998. Proposed financing will consist of the following sources: Jersey City AHTF - $200,000; developer equity - $210,000 and a construction loan - $700,000; and RESOLUTION TO AMEND COUNCIL RESOLUTION 15-576 AUTHORIZING AFFORDABLE HOUSING TRUST FUND (AHTF) CONTRACT WITH MORRIS CANAL CDC- 408-420 COMMUNIPAW AVE

NOW, THEREFORE, BE IT RESOLVED by the Municipal Council of the City of Jersey City that:

1) The Mayor and/or Business Administrator is hereby authorized to enter into an Affordable Housing Trust Fund (AHTF) Contract, in substantially the form attached hereto, with Morris Canal CDC for the creation of forty-four (44) of which ten (10) units are designated affordable housing rental units.

2) Subject to review and approval by Corporation Counsel, the Mayor or Business Administrator is hereby authorized to execute contracts and such other documents deemed necessary to secure loans under the Affordable Housing Trust Fund (AHTF). The terms and conditions of the aforementioned documents may be negotiated by the Division of Community Development (DCD) and shall be in accordance with all laws, rules and regulations applicable to the program. RESOLUTION FACT SHEET – CONTRACT AWARD This summary sheet is to be attached to the front of any resolution that is submitted for Council consideration. Incomplete or vague fact sheets will be returned with the resolution.

Full Title of Ordinance/Resolution

RESOLUTION OF THE MUNICIPAL COUNCIL OF THE CITY OF JERSEY CITY AMEND COUNCIL RESOLUTION 15-576 THAT AUTHORIZED AN AFFORDABLE HOUSING TRUST FUND (AHTF) AGREEMENT WITH MORRIS CANAL REDEVELOPMENT CORPORATION FOR 408-420 COMMUNIPAW AVENUE FOR ADDITONAL PRE-DEVELOPMENT FUNDS

Project Manager Department/Division HEDC COMMUNITY DEVELOPMENT Name/Title ALYCIA COHEN PROJECT MANAGER Phone/email X4583 [email protected] Note: Project Manager must be available by phone during agenda meeting (Wednesday prior to council meeting @ 4:00 p.m.)

Contract Purpose To allow the City to amend the resolution 15-576 and contract with Morris Canal CDC. Morris Canal is a non-profit organization that has already received $100,000 for pre-development cost. Morris Canal has requested and was approved by the AHTF committee to receive an additional $100,000 for pre-development funds for the creation of a developmental plan for an affordable housing project located at 408-420 Communipaw Avenue, block 20001 lots 16-22.

Cost (Identify all sources and amounts) Contract term (include all proposed renewals)

Affordable Housing Trust Fund: $100,000 One (1) Year

Type of award AHTF

If “Other Exception”, enter type

Additional Information

I certify that all the facts presented herein are accurate.

______Signature of Department Director Date

______Signature of Division Director Date Acct. #: 17-293-56-000-025

Resolution #: 15.576 Date: 12-9-19

FIRST AMENDMENT TO CONTRACT BETWEEN CITY OF JERSEY CITY AND MORRIS CANAL REDEVELOPMENT CORPORATION FOR THE AWARD OF FUNDS FROM THE AFFORDABLE HOUSING TRUST FUND

PRELIMINARY STATEMENT AND DEFINITIONS

This Agreement (hereinafter referred to as the "Agreement"), made on the ______day of ______, 2019 by and between the City of Jersey City, a Municipal corporation of the State of New Jersey, 280 Grove Street, Jersey City, N.J. 07302, ( hereinafter referred to as "Jersey City" or “City”) and Morris Canal Redevelopment Corporation, a non-profit corporation organized and existing under the laws of the State of New Jersey, having its principal place of business at 317 Pacific Avenue, Jersey City, NJ 07304 (hereinafter referred to as “Developer”); and

WHEREAS, N.J.S.A. 40A:20-1 et seq. authorizes municipalities to grant long term tax exemptions from annual property taxes; and

WHEREAS, the City has long required developers and other recipients of long term tax exemptions to contribute funds for the rehabilitation or construction of affordable housing; and

WHEREAS, the City has established an Affordable Housing Trust Fund ("AHTF"), for the rehabilitation or construction of affordable housing or the preservation of existing low or moderate income affordable housing, and codified the guidelines and requirements, for receiving a long term tax exemption, at Section 304-28 of the City Code; and

WHEREAS, on September 28, 2005 the City of Jersey City adopted Ordinance 05-130, amending and supplementing Chapter 304, Article VI (Long Term Tax Exemptions) of the Jersey City code, that established an Affordable Housing Trust Fund (AHTF) generated from fees from recipients of long term tax exemptions and adopted a spending plan for the AHTF; and

WHEREAS, on November 21, 2006 the Municipal Council adopted Ordinance 06-144 amending the AHTF spending plan (Ordinance 05-130) to allow AHTF recipients to utilize AHTF funds for property acquisition in limited instances, and to clarify fund dedications; and

WHEREAS, said spending plan authorizes the City to enter into contracts with public entities, for profit entities, or non-profit entities organized under State and federal law for the purpose of constructing, rehabilitating and preserving affordable housing; and

1 of 10 WHEREAS, the Division of Community Development, (hereafter referred to as the "DCD") is the City Division responsible for administering the Affordable Housing Trust Funds; and

WHEREAS, on August 19, 2015, Resolution 15-576 the Municipal Council of the City approved and authorized the pre-development funds in the amount of $100,000 from the Affordable Housing Trust Funds for the creation of a developmental plan for affordable units; and

WHEREAS, Morris Canal Redevelopment Corporation is a developer of 408-420 Communipaw Avenue affordable units (Block 2001/ Lots16-22); and

WHEREAS, the Department of Housing, Economic Development and Commerce (HEDC) believes this project will enable the City to develop affordable housing for low and moderate A income persons in compliance with the intent of the Affordable Housing Trust Fund spending H plan. T F

WITNESSETH: Now, therefore, in consideration of the mutual promises and other C conditions, covenants, and obligations made and agreed to by and between the parties, the O N undersigned agree: T R DEFINITIONS: A C T The parties hereto agree that, unless the context otherwise specifies or requires the following – terms shall have the meanings specified below, such definitions to be applicable equally to the R singular and plural forms of such terms: e v . AFFORDABLE HOUSING TRUST FUND: The Affordable Housing Trust Fund (AHTF) is a trust fund of the City dedicated to the rehabilitation or construction or preservation of existing low or 2 moderate income affordable housing or the construction of new low or moderate income 0 1 affordable housing, as those terms are defined in the Fair Housing Act, N.J.S.A. 52:27-301 et 5 seq., and any regulations promulgated thereunder.

AIA: The American Institute of Architects (AIA), which prepares and publishes (with the consensus of owners, contractors, attorneys, architects, engineers, and others) various “AIA Contract Documents,” which are widely-accepted, comprehensive contracts and forms that define relationships and terms involved in design and construction projects.

AIA DOCUMENT G702: An industry standard document which is designed and published by the AIA, for the purpose of establishing uniformity in the practice of applying for and certifying construction payments.

AIA DOCUMENT G703: The continuation sheet for an AIA G703 document.

CERTIFICATE OF OCCUPANCY: A document issued by the City which certifies a unit has been

2 of 10 inspected and is habitable, that it satisfies the Building Code and related codes thereto, and is in conformance with the site plan for the project.

COUNCIL ON AFFORDABLE HOUSING (COAH): The Council on Affordable Housing (COAH) as created by the State of New Jersey Affordable Housing Act of 1985 and which governs developer contribution agreements for affordable housing.

DEVELOPER: The entity that develops a project that provides housing units within Jersey City which fulfill the conditions of this contract.

DIVISION OF COMMUNITY DEVELOPMENT (DCD): A division of the City Department of Housing and Economic Development and Commerce, charged with overseeing affordable housing developments within the City.

ELIGIBLE COST: Cost deemed by the City to be eligible development expenditures by a Developer for which AHTF funds can be awarded.

FORECLOSURE: The termination through legal process of all rights of the mortgagor or the mortgagor's heirs, successors, assigns or grantees in a unit covered by a recorded mortgage.

GROSS ANNUAL INCOME: The total amount of all sources of a household's income including but not limited to salary, wages, interest, dividends, alimony, pensions, social security, business and capital gains, tips on income reported to the Internal Revenue Service (IRS).

HOUSEHOLD: The person or persons occupying a housing unit.

HUD: The U.S. Department of Housing and Urban Development.

HOUSING PROJECT: A housing development to be financed in part by use of AHTF funds.

LOW INCOME HOUSING: Housing which is affordable to a household whose Gross Annual Income does not exceed 50 percent of the median income for the area, as defined by HUD or COAH, as applicable.

MODERATE INCOME HOUSING: Housing which is affordable to a household whose Gross Annual Income is more than 50 percent, but less than 80 percent of the median Gross Annual Income for households of the same size for the area as defined by HUD or COAH, as applicable.

MEDIAN INCOME INDEX: The percentage by which the median income figures, established by either COAH or the U.S. Department of Housing and Urban Development, changes each year for every area in the state.

OWNER: The title holder of record as same is reflected in the most recently dated and recorded deed for the affordable housing project.

PROJECT: An undertaking to create one or more affordable housing units within Jersey city, or more particularly the construction of 23 mixed income condominium units of which eight (8) units

3 of 10 are for low and moderate income for sale housing units.

SPONSOR: Responsible for ensuring completion of the project and implementing the redevelopment plan if applicable

UNIT: A residential dwelling built according to construction plans reviewed and approved by the City.

Section 1. Project Description Morris Canal Redevelopment Corporation will utilize an additional One Hundred Thousand Dollars ($100,000) in Affordable Housing Trust Funds for pre- development costs associated with the creation of affordable housing as described in Attachment “A”

PROJECT NAME: Morris Canal Redevelopment Corporation__

ADDRESS: 408-420 COMMUNIPAW AVENUE, JERSEY CITY, NJ 07304

BLOCK(S): 20001 LOT(S): 16-22

Section 2. Eligible Population This project shall be occupied by households who meet criteria for occupancy as low and/or moderate income households as defined by HUD or COAH, as applicable.

Section 3. Periodic Inspection The Developer agrees to accept periodic inspection of its development project by HEDC, or its designee.

Section 4. Time of Performance Implementation of the project shall commence upon full execution of this Agreement and shall proceed in accordance with the schedule set forth in Attachment "A". The City and the Developer may revise the implementation schedule by mutual consent. This contract will remain in effect for the entire term of the affordability period which is set forth in Section 12 of this agreement.

Section 5. Consideration and Terms Pursuant to the terms and provisions of this contract, for expenses as detailed in Attachment "A," the City agrees to provide additional funding in the amount of $100,000. In consideration of the receipt of Affordable Housing Trust Funds (hereinafter referred to as “funds”) to be given to the Developer, the Developer agrees to be bound by the agreements contained herein, the Affordable Housing Development Agreement, Mortgage, and Mortgage Note, if applicable.

Section 6. Amount of Funds The Predevelopment funds provided by the City to the Developer toward the development of an affordable housing project located at 408-420 Communipaw Avenue will be an additional One Hundred Thousand ($100,000) Dollars, totaling $200,000 for pre-development funds. Funds may not be requested until they are needed for payment of eligible costs. Eligible costs are limited to financing fees, application fees, legal fees, environmental testing, engineering fees,

4 of 10 cost relocated to securing local site plan approval, architectural fees, title report, survey costs and project management fees. All requests for funds must be supported with the back- up documentation, determined appropriate by the Division of Community Development (DCD).

Section 7. Payment Payment of AHTF funds by the City to the Developer can only be made upon receipt of appropriate documentation including, but not limited to, the following:

1. Voucher in a format supplied by DCD together with an Application and certificate for payment, AIA Document G702 and continuation sheet, AIA Document G703. 2. Detailed bills for all marketing, legal, or related soft costs associated with this project. 3. Certification from licensed architect that costs incurred to date as shown on the accompanying progress payment voucher are valid and that work performed has been completed in accordance with the project construction plans and specifications and all applicable building and construction codes.

Section 8. Repayment Funds shall be provided in the form of a loan which shall be secured by a mortgage on the property and a promissory note. The mortgage and promissory note shall be executed by the Developer and returned to the City. Interest on the loan shall accrue at 0% APR. The loan shall be repaid according to the provisions of the mortgage, note, or other related closing documents. In addition, the loan shall be repaid in full upon default of this Contract or the Affordable Housing Development Agreement.

Section 9. Completion of Project Upon completion, the Developer shall provide DCD with all items as identified by the Division of Community Development in the closeout checklist.

Section 10. Liability The City shall incur no liability to the Developer pursuant to this Agreement in the event AHTF funds are not available or granted for the Project.

Section 11. Restriction on Occupancy A. The Developer agrees to insert restrictive language in all deeds of conveyance and condominium by-laws to require ownership by low or moderate income persons for the time periods required by law and this Agreement.

B. The Developer agrees to insert restrictive language in all lease agreements to require occupancy by low or moderate income persons for the time periods required by law and this Agreement.

Section 12. Affordability Controls A. All housing to be assisted financially, administratively or otherwise, by Jersey City will be required to remain affordable to, and occupied by low and moderate income households for a minimum of twenty (20) years (If applicable).

B. All resale and rent Affordability restrictions shall be incorporated into the deed of the

5 of 10 Developer and all subsequent deeds during the appropriate term of the Affordability Controls.

Section 13. Compliance The Developer and City agree to comply with all appropriate statutes and regulations applicable to this Agreement.

Section 14. Approval This Agreement is subject to the approval of the City’s Municipal Council.

Section 15. Execution as Required The parties hereto agree that each shall execute any and all documents which are required in order to implement the terms and conditions of this Agreement.

Section 16. Designation of Representative The Developer and City agree that each shall designate a single representative who shall serve as a liaison to carry out the terms and conditions of this Agreement. In the event that the designated liaison person no longer serves as liaison for any reason whatsoever, each party agrees to name a replacement until such time as the parties agree between themselves that the Agreement is fully implemented and both parties have fully complied with their respective obligations herein.

Section 17. Notice of Demands A notice, demand or other communication under this Agreement by either party to the other shall be considered sufficiently given or delivered if it is dispatched by regular U.S. Mail, postage prepaid, or delivered personally,

(a) in the case of the Developer:

Morris Canal Redevelopment Corporation 317 Pacific Avenue Jersey City, NJ 07304 Attn: June Jones, President

(b) in the case of the City:

Corporation Counsel, City of Jersey City Law Department – Third Floor 280 Grove Street – City Hall Jersey City, NJ 07302 and

Jersey City Division of Community Development One Jackson Square 3rd Floor Jersey City, NJ 07305 Attn: Carmen Gandulla, Director

6 of 10 or at such address which either party may, from time to time, designate in writing and forward to the other as provided in this section.

Section 18. Remedies Exercise by either party of any one or more legal and or contractual remedies shall not preclude the exercise by it, at the same or different times, of any other such remedies for the same default or breach by the other party. No waiver made by either such party with respect to the performance, or manner or time thereof, or obligation of other party or any condition to its own obligation under the Agreement shall be considered a waiver of any rights of the party making the waiver with respect to the particular obligation of the other party or condition to its own obligation beyond those expressly waived in writing, or a waiver in any respect in regard to any other rights of the party making the waiver or any other obligations of the other party.

Section 19. Assignability Neither party shall assign, or attempt to assign its respective obligations under this Agreement without the prior written consent of the other party.

Section 20. Conflict of Interest No official, or employee of either the City or the Developer shall have any personal interest, direct or indirect, in the Agreement, nor shall any such member, official, or employee participate in any decision relating to the Agreement which affects his personal interest or the interest of any corporation, partnership, or association in which he is directly or indirectly, financially interested.

Section 21. Agency Representative not Individually Liable Neither the City nor any of its officials, officers or employees shall be charged personally with any liability under any term or provision of this Agreement or because of its execution or attempted execution or because of any breach or alleged breach thereof or otherwise.

Section 22. Governing Law This Agreement shall be deemed to have been made, executed and delivered in the State of New Jersey. The terms and conditions of this agreement shall be construed in accordance with the laws of the State of New Jersey. Venue for any legal action shall lie in the Superior Court of New Jersey, Hudson County vicinage.

Section 23. Severability In the event any covenant, condition or provision of this Agreement is held to be invalid or unenforceable by a final judgment of a court of competent jurisdiction, the invalidity or unenforceability thereof shall in no way affect any of the other covenants, conditions or provisions hereof, provided that such remaining covenants, conditions and provisions can thereafter be applicable and effective without material prejudice to the City or the Developer.

Section 24. Binding Effect This Agreement shall be binding upon the parties and their legal representatives, successors and assigns.

Section 25. Titles of Articles and Sections

7 of 10 Any titles of the several parts, Articles or sections of Agreement are inserted for convenience of reference only and shall be disregarded in construing or interpreting any of its provision.

Section 26. Third Party Rights Nothing contained within this Agreement is intended to nor shall it be construed to create any rights of any kind whatsoever in persons not parties to this Agreement.

Section 27. Entire Agreement This Agreement revokes all prior and contemporaneous oral or written proposals, oral or written agreements, understandings, communications, representations, conditions, warranties, covenants and all other communications between the Parties relating to the subject matter of this Agreement. The subject matter of this Agreement may not be explained or supplemented by the circumstances of its negotiation, the course of dealing between the parties or usage of trade.

IN WITNESS WHEREOF, the City of Jersey City has caused this Agreement to be duly executed in its name and behalf by its Mayor and its seal to be hereunto duly affixed and attested by its City-Clerk, and the Developer has caused this Agreement to be duly executed in its name and behalf by its President and attested by its Secretary, on or as of the day first above written.

ATTESTED CITY OF JERSEY CITY

______ROBERT BYRNE BRIAN PLATT CITY CLERK OF JERSEY CITY BUSINESS ADMINISTRATOR

WITNESS MORRIS CANAL REDEVELOPMENT CORPORATION

______AUTHORIZED REPRESENTATIVE TITLE

8 of 10 ATTACHMENT “A” 2019 AHTF PROPOSED BUDGET REHAB / CONSTRUCTION / ACQUISITION / CLEARANCE

Section 1: PROGRAM DESCRIPTION AND LOCATION (BE SPECIFIC) Total Number of Housing Units: ______Total Number of Very Low Income Units: ______Total Number of Low Income Units: ______Total Number of Market Rate Units: ______Project Address: ______

Section 2: PROJECT IMPLEMENTATION SCHEDULE

MUST include at least the following: ANTICIPATED ACTIVITY COMPLETION DATE (Month & Year) Receive A / E Proposals ______20__ Award A / E Contract ______20__ Advertise for Construction Bids ______20__ Receive Construction Bids ______20__ Award Construction Contracts ______20__ Pre-construction Meeting ______20__ Commence Construction ______20__ Complete Construction ______20__

Section 3: PROJECT BUDGET

MUST include at least the following: Other Funds AHTF Source Amount Funds Acquisition of Property $______$______$______Relocation $______$______$______*Clearance $______$______$______Professional Services $______$______$______(Architectural, engineering, legal, appraisal, audit) *Project Construction Costs $______$______$______(Attach list of work items/materials and cost estimate for each) Financing $______$______$______Carrying Costs $______$______$______Contingencies $______$______$______*Rehabilitation $______$______$______(Attach list of work Items / materials and cost estimate for each)

Budget Subtotal: $ $ _ $ Total Project Budget: $ ______$______$______

______SUBGRANTEE DIVISION OF COMMUNITY DEVELOPMENT

9 of 10 ATTACHMENT “A”

ADDITIONAL PROJECT INFORMATION

10 of 10