Title
Dept/ Agency: Law
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: Professional Services Contract
Purpose: To provide Bond Counsel Services.
Entity Name: DeCotiis, Fitzpatrick, Cole and Giblin, LLP
Entity Address: 61 South Paramus Road, Paramus, New Jersey 07652
Contract Amount: Not to exceed $200,000.00
Funding Source: City of Newark Bond Note Proceeds
Contract Period: January 1, 2021 through December 31, 2021
Contract Basis: ( ) Bid ( ) State Vendor (X) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) N/A
Additional Information:
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WHEREAS, the City of Newark (the "City") as the largest municipality in the State of New Jersey faces novel issues on a daily basis and has a need to acquire Bond Counsel legal services; and
WHEREAS, DeCotiis, Fitzpatrick, Cole and Giblin, LLP ("DeCotiis"), a law firm with a diverse practice and specific expertise in issues involving municipal government, submitted a proposal to provide Bond Counsel Legal Services and it was found to be in the interest of the City to accept the proposal for the purpose of providing Bond Counsel Legal Services; and
WHEREAS, the Mayor of the City of Newark and the Corporation Counsel wish to enter into and execute a contract with DeCotiis to provide Bond Counsel Legal Services in an amount not to exceed Two Hundred Thousand Dollars and Zero Cents ($200,000.00), for the period of January 1, 2021 through December 31, 2021; and
WHEREAS, the Mayor of the City of Newark and Corporation Counsel wish to enforce Ordinance 6PSF-a adopted on March 16, 2016 and its amending Ordinance 6PSF-c adopted on May 10, 2018, which provides for the use of the redevelopment escrow fees paid by developers to defray the various costs, such as those associated with Redevelopment Area Bonds (RAB),...
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