170-18 JFP Housing LP - West Orange.pdf

ME1 27541339v.1 170-18 July 17, 2018 RESOLUTION WHEREAS, Daughters of Israel Geriatric Services, Inc. (“Daughters”) is the current owner of certain property known as 748-750 Northfield Avenue in the Township of West Orange (“Township”), Essex County, New Jersey commonly known as the Jewish Federation Plaza (the “Property”); WHEREAS, the Property is shown on the Tax Map of the Township as Block 165, Lot 16; and WHEREAS, under the 2017 plan for refinancing and improvements, Daughters planned to convey the Property to JFP Housing LLC; and WHEREAS, by Resolution adopted May 23, 2017, No. 108-17 adopted by the Township Council of the Township of West Orange, the Council approved an agreement with JFP Housing LLC for payments in lieu of taxes (“PILOT”); and WHEREAS, JFP Housing LLC has been converted to a limited partnership under Delaware law as of January 8, 2018 and is now known as JFP Housing LP; and WHEREAS, by Resolution adopted January 9, 2018, No. 27-18 adopted by the Township Council of the Township of West Orange, the Council amended Resolution No. 107- 17 by correcting certain typographical errors including the number of affordable units which was revised to 134 units instead of 135 units and revising the Tax Map description to Lot 16 instead of Lots 15, 18, and 19; and WHEREAS, the New Jersey HMFA legal counsel has requested a Resolution clarifying the conveyance of the Property to JFP Housing LP; and