Title
Dept/ Agency: Law
Action: ( ) Ratifying (X) Authorizing (X) Amending
Type of Service: Amending Resolution #7R7-d 061710, Settlement Agreement
Purpose: Allow payment to the City of Newark for Supplemental billing for the years 2005 thru 2009; 15% annual service charge on the utility surcharges that the Entity Collected in 2009; and 2009 additional services charges
Entity Name: High Park Gardens Cooperative Corp.
Entity Address: 108 Spruce Street, Newark, NJ 07108
Settlement Amount: $235,558.27 Minus $23,555.52 Already received by the City of Newark for a total settlement amount of: $212,002.75
Funding Source: High Park Gardens Cooperative Corp.
Payment Period: Over Five (5) years in 20 equal quarterly installments in the amount of $10,600.00 no later than the 10th day of each month to commence on February 1, 2011 and end on February 1, 2016.
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( ) Grant ( ) Sub-recipient (X) n/a
Additional Information: N/A