Title
Dept/ Agency: Administration/Office of the Business Administrator
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: Memorandum of Understanding
Purpose: To maximize economic activity related to, and support the development of Lionsgate Studios, which is located within its municipality;
Entity Name: New Jersey Economic Development Authority (NJEDA)
Entity Address: One Gateway Center, Suite 1410, Newark, New Jersey, 07102
Grant Amount: $1,000,000.00
Total Project Cost: $1,000,000.00
City Contribution: $0.00
Other Funding Source/Amount: N/A
Grant Period:
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale (X) Grant ( ) Sub-recipient ( ) n/a
Additional Information:
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WHEREAS, the New Jersey Fiscal Year 2023 State Appropriation Act appropriated $15,000,000 to the Film Industry Strategic Support Fund to be used to grow and strengthen the state’s film and digital media industry, including attracting film studio production facilities to the state and expanding job opportunities; and
WHEREAS, New Jersey Economic Development Authority (“NJEDA”) is an independent State authority established pursuant to N.J.S.A. 34:1B-1, et seq., in but not of the Department of Treasury, which serves as the State’s principal agency for driving economic growth; and
WHEREAS, NJEDA has determined to use Five Million Dollars and Zero Cents ($5,000,000.00) of the Film Industry Strategic Support Fund for municipalities undertaking improvements and infrastructure projects which support the development of Studio Partner or Film-Lease Partner facilities within their municipal boundaries (the “Program”); and
WHEREAS, the City of Newark (the “City”) is a municipal corporation in Essex County and the State of New Jersey with offices at 920 Mayor Kenneth A. Gibson Boulevard, Newark, New Jersey, 07102; and
WHEREAS, on December 21, 2022, the NJEDA Board approved Lionsgate Studios in Newark, New Jersey as a Studio Partner Facility, and
WHEREAS, the City desires to enter into a Memorandum of Understanding (“MOU”) with the NJEDA to maximize economic activity related to, and support of the development of Lionsgate Studios, which is located within the City; and
WHEREAS, the City will use the funding for projects that support the Studio Partner or Film-Lease Partner Facility or address the impacts of studio development in the Municipality; and
WHEREAS, the City desires to undertake improvements and infrastructure projects which support the development of Facilities in the City; and
WHEREAS, the MOU will be administered pursuant to N.J.S.A. 52:14-1 et seq., which authorizes government entities to call upon any department, office, division or agency of the State to assist with its mission; and
WHEREAS, the City and NJEDA (“Parties”) have determined that they can assist each other with the implementation of the Program by entering into the attached MOU,, and that it is mutually beneficial to enter into this MOU; and
WHEREAS, the MOU will have a term of four (4) years with an option to extend the term for an additional twelve (12) months by mutual consent of the City and EDA; and
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The Municipal Council hereby authorizes the Mayor and/or his designee to enter into a Memorandum of Understanding (“MOU”) with the New Jersey Economic Development Authority (the “NJEDA”) in the amount of One Million Dollars and Zero Cents ($1,000,000.00) from the Film Industry Strategic Support Fund for the City of Newark to undertake improvements and infrastructure projects.
2. The Municipal Council hereby ratifies the authority granted in Paragraph 1 of this Resolution from April 26, 2026 to the adoption of this authorizing Resolution.
3. The Business Administrator shall file a fully-executed copy of the MOU in the Office of the City Clerk.
STATEMENT
This Resolution ratifies and authorizes the Mayor of the City of Newark and/or his designee, and the Business Administrator, to enter into a Memorandum of Understanding with the New Jersey Economic Development Authority (the “NJEDA”) in the amount of One Million Dollars and Zero Cents ($1,000,000.00) from the Film Industry Strategic Support Fund for municipalities undertaking improvements and infrastructure projects which support the development of Facilities in their municipalities.