Planning Board Resolution Memorializing the HEFSP #20-08

PRISM Redevelopment (family rental) 44 44 88 Phase 1 is completed; Phase 2 is approved w/ redeveloper’s agreement in place Habitat for Humanity (family for-sale) 2 0 2 Completed Total 169 57 226 - 1. Degnan House (Block 113.01, Lot 27.01) is a very low income senior citizen rental complex that was funded by the Section 202 Program. There are a total of 62 apartments in the building. However, only 10 were occupied after April 1, 1980 and thus eligible for credit. Exhibit B. 2. Federation Plaza (Block 165, Lot 16) is also an age-restricted complex that was funded by the Section 202 Program. There are a total of 134 senior units that opened in December 1980. Ninety-two will address the Prior Round and the balance, 42, will address the Third Round Obligation. Exhibit C. 3. 4 Wedgewood Avenue is a four bedroom group home that is owned and operated by the ARC of Essex County. Two of the bedrooms will be credited towards the Prior Round. The home opened in 1984. Exhibit D. 4. 30-32 Kingsley is an eight bedrooms group home that is owned and operated by the Easter Seal Society of New Jersey. The home opened in 1992. Exhibit E. 5. 1 Marmon Terrace is a six bedroom group home that is owned and operated by the ARC of Essex County. The home opened in 1992. Exhibit F. 6. 2Merrywood Drive is a five bedroom group home that is owned and operated by the Developmental Disabilities Association. The group home opened in 1998. Exhibit G. 7.Prism Green Associates IV, LLC (Block 64, Lot 22) (PRISM) is a redevelopment site that will contain a total of 296 units in Phase 2 including 44 affordable family rentals. The Redevelopment Agreement provides for a 50-year deed restriction on the 44 units . In addition to the 44 affordable family rentals, PRISM funded the four bedroom group home at St. Cloud for a total of 48 affordable units. The development will occur in phases. Phase | is completed and Phase 2 is approved with an Amended and Restated Redevelopment Agreement, dated June 1, 2018. The site is available in that it has clear title and is owned by Prism Green Associates, IV, LLC. The site is approvable in that there is an executed Redevelopment Agreement in place and Phase 1 has already been completed. The site is developable in that it has access to public water and sewer. The site is suitable in that it is in a mixed- use area with both residential and commercial

hase 1 has already been completed. The site is developable in that it has access to public water and sewer. The site is suitable in that it is in a mixed- use area with both residential and commercial uses. ‘Access is from Charles Street and the site is located on a public bus route. Exhibit H. 4852-5689-4161, v. 1