Title
Dept/ Agency: Administration/Office of the Business Administrator
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Accepting a Gift and License Agreement
Gift: Basic License Fee for the use of the Prudential Hall, Parsonnet Room, and ticketing services for the purpose of the 2021 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, October 26, 2021, 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: Ancillary Service Fees in the amount of $60,000.00.
Other Funding Source/Amount: $0.00
Contract Period: October 26, 2021
Additional Information:
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 2021 State of the City Address at the Prudential Hall Theatre located in the New Jersey Performing Arts Center, on Tuesday, October 26, 2021; and
WHEREAS, the New Jersey Performing Arts Center Corporation, 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 Room at the New Jersey Performing Arts Center in exchange for the City agreeing to enter into a Short Term License Agreement for the ancillary service fees for an estimated amount of Fifty-One Thousand Five Hundred Dollars and Zero Cents ($51,500.00), which the City needs to p...
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