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 2022 State of the City Mayoral Address
Purpose: To enter into and execute a Short Term License Agreement with New Jersey Performing Arts Center to use the Prudential Hall Theatre and the Parsonnet Room for the 2022 State of the City Mayoral Address.
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 an amount not to exceed $60,000.00
Other Funding Source/Amount: $0.00
Contract Period: March 15, 2022
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, Parsonnet Room, 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 2022 State of the City Address at the New Jersey Performing Arts Center, on Tuesday, March 15, 2022; 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 Th...
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