Title
Dept/ Agency: Economic and Housing Development
Action: (X ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Apply and Acceptance of Grant Funds
Purpose: To create strategies for economic development plans to catalyze planning and key investments.
Entity Name: New Jersey Economic Development Authority
Entity Address: 36 West State Street, PO Box 990, Trenton, New Jersey 08625-0990
Grant Amount: $100,000.00
Total Project Cost: $120,000.00
City Contribution: $20,000.00 in matching funds to be provided by Newark Community Economic Development Corporation (NCEDC) (now known as Invest Newark) from its' Surdana Foundation Grant endowment
Other Funding Source/Amount: $0.00
Grant Period: May 17, 2019 through November 17, 2019
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:
body
WHEREAS, the City of Newark (the "City") seeks to create strategies for Economic Development Plans to Catalyze Planning and Key Investments within the City of Newark; and
WHEREAS, the New Jersey Economic Development Authority ("NJEDA") introduced a pilot program entitled the Innovation Planning Challenge Program Grant ("Innovation Grant",) which provides grants to eligible municipalities, counties, municipal partnerships and regional partnerships to create strategies for economic development plans to catalyze planning and key investments; and
WHEREAS, on or about December 4, 2018, and at the direction of the Director of the Department of Economic and Housing Development, Newark Community Economic Development Corporation (NCEDC) (now known as Invest Newark) and New Jersey Institute of Technology (NJIT) submitted an application on behalf of the City to the NJEDA in pursuit of grant funding to support the creation o...
Click here for full text