Title
Dept/ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: Exception to Public Bidding - [Extraordinary Unspecifiable Services]
Purpose: Continue to implement the various initiatives, goals and programs in furtherance of economic development and redevelopment activities including providing $3,000,000.00 in funding to carry out the administration and management of the City's Urban Enterprise Zone Program
Entity Name: Newark Community Economic Development Corporation
Entity Address: 111 Mulberry Street, Market Street LL Suite, Newark, New Jersey 07102
Contract Amount: Not to exceed $3,000,000.00
Funding Source: Urban Enterprise Zone
Contract Period: September 1, 2015 through December 31, 2017
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. (X) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient ( ) n/a
Additional Information:
The City will be receiving $1,082.93 per month for use of City-owned property at 111 Mulberry Street.
Failed 7R3-a (s) 051016
Deferred 7R3-c 051816
body
WHEREAS, Newark CEDC (formerly Brick City Development Corporation ("BCDC")), with offices at 111 Mulberry Street, Market Street LL Suite, Newark, New Jersey 07102, was formed for the purpose of the receipt and administration of funds for charitable purposes and the performance of activities pertaining to economic development within the City, including development of residential, commercial, industrial, and other real estate in a manner beneficial to the City, all as more specifically set forth in Newark CEDC's Certificate of Incorporation; and
WHEREAS, the Parties recognize that Newark CEDC, through funding by the City, is the City's Economic Development arm; and
WHEREAS, the services to be provided by Newark CEDC t...
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