Title
Dept/ Agency: Economic & Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: Pass Through Agreement
Purpose: To provide a Pass-Thru Agreement between the City of Newark and Newark Downtown District Management Corporation for the UEZ Downtown Safety Initiative Program
Entity Name: Newark Downtown District Management Corporation
Entity Address: 15 Clinton Street, Newark, New Jersey 07102
Grant Amount: $100,000.00
Funding Source: New Jersey Urban Enterprise Zone Authority
Total Project Cost: $360,000.00
City Contribution: $72,000.00
Other Funding Source/Amount: N/A
Contract Period: Two (2) years from the date of adoption by the Municipal Council.
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale (X) Grant (X) Sub-recipient ( ) n/a
Additional Information:
Resolution 7R3-D(S) 051308 authorizing application and acceptance of grant funds and authorizing City to enter into Grant Agreement.
Ordinance 6S&FE 090298 established the Newark Downtown Special Improvement District
body
WHEREAS, the State of New Jersey created an Enterprise Zone Assistance Fund (the “Fund”), pursuant to N.J.S.A. 52:27H-88, et seq. for the purpose of assisting qualified municipalities located within the areas designated as Enterprise Zones, the proceeds of which are available to requesting qualified municipalities upon written application to the New Jersey Urban Enterprise Zone Authority (the “Authority”); and
WHEREAS, through Resolution 7R3-D(S), adopted on May 13, 2008, the City of Newark Municipal Council authorized the Mayor, Business Administrator and the Director of Newark Office of Urban Enterprise Zone to submit an application to the Authority requesting funds in the amount of Two Hundred Eighty-Eight Thousand Dollars ($288,000.00) with a local match of Sevent...
Click here for full text