Mayor Cory Booker delivered his third State of the City address Monday, describing how he plans to usher Newark through the economic, housing and banking crises.

?We unequivocally are in a state of severe challenge,? he said early in his speech.

The mayor discussed how Newark must not lose sight of its goal of being a vibrant, family-friendly city, despite the economy. Booker pointed to efforts to keep families facing foreclosure in their homes, and says increased pressure is being placed on local banks to be responsible and increase investments.

Booker spoke at length about new downtown projects for the city that he says will include affordable housing and create construction jobs. Also among the mayor?s plan to help families struggling through the recession is a support network designed to help families headed by grandparents.