Title
Dept/ Agency: Administration/Office of the Business Administrator
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Accepting a Gift/ License Agreement
Gift: Basic License Fee for the use of the Prudential Hall, Parsonnet Room, and ticketing services for the purpose of the 2019 State of the City Mayoral Address
Purpose: To accept a gift of the Basic License Fee for the use of Prudential Hall, Parsonnet Room, and Ticketing Services valued at a total combined gift in the amount of $15,500.00 for the Mayor's State of the City Address and to execute the Short Term License Agreement with the New Jersey Performing Arts Center Corporation, in an amount not to exceed $55,000.00.
Entity Name: New Jersey Performing Arts Center (NJPAC) Corporation
Entity Address: One Center Street, Newark, New Jersey 07102
Gift Value: $15,500.00
City Contribution: Estimated Ancillary Service Fees of $48,994.00 with a final amount not to exceed $55,000.00.
No municipal funds will be expended for the acceptance of this gift.
Other Funding Source/Amount: N/A
Period: Tuesday, March 12, 2019
Additional Information:
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WHEREAS, the Mayor of the City of Newark (the "City"), is desirous of holding the Mayor Ras J. Baraka's 2019 State of the City Address at the New Jersey Performing Arts Center, on Tuesday, March 12, 2019; 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 estimated Ancillary Service Fees, which the City needs to pay to NJPAC no later than February 22, 2019; and
WHEREAS, the Ancillary Service Fees are currently estimated at $48,994.00 but are su...
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