Title
Dept/ Agency: Administration/Office of the Business Administrator
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Accepting a Gift
Gift: Basic License Fee for the use of the Prudential Hall and ticketing services for the purpose of the 2024 State of the City Mayoral Address
Purpose: To accept a gift and execute Short Term License Agreement with the New Jersey Performing Arts Center Corporation, for the use of Prudential Hall Theatre and the Parsonnet Room, valued at $14,000.00 and gift fee for ticketing services, a gift valued at $1,500.00 to be held on Tuesday, March 12, 2024, for a total combined gift of $15,500.00 and total amount not to exceed $60,000.00.
Entity Name: New Jersey Performing Arts Center Corporation (NJPAC)
Entity Address: One Center Street, Newark, New Jersey 07102
Gift Value: $15,500.00
City Contribution: An ancillary service fee in an amount not to exceed $60,000.00
Other Funding Source/Amount: $0.00
Contract Period: Tuesday, March 12, 2024
Additional Information:
This Resolution authorizes the City, pursuant to N.J.S.A. 40A:5-29, to accept a gift of the basic license fee for the use of Prudential Hall and ticketing services, which is valued at $15,500.00.
The Short Term License Agreement is in an amount not to exceed $60,000.00, representing ancillary service fees.
No municipal funds will be expended for the acceptance of this gift.
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WHEREAS, the Mayor of the City of Newark (the "City") is desirous of holding the 2024 State of the City Address at the Prudential Hall Theatre located in the New Jersey Performing Arts Center, on Tuesday, March 12, 2024; and
WHEREAS, the New Jersey Performing Arts Center Corporation ("NJPAC"), a New Jersey not-for-profit corporation, having an office at One Center Street, Newark, New Jersey 07102 ("NJPAC") has agreed to permit the City to use the Prudential Hall Theatre and the Parsonnet R...
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