Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Professional Services Contract
Purpose: Title Search Services
Entity Name: Foundation Title, LLC
Entity Address: 57 Euclid Street, Woodbury, New Jersey 08096
Contract Amount: $50,000.00
Funding Source: City of Newark/Economic & Housing Development
Contract Period: From date of Notice to Proceed for a period not to exceed 12 months
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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WHERAS, the City of Newark, Department of Economic and Housing Development wishes to enter into a Professional Service Contract for Title Search Services; and
WHEREAS, the above-referenced Title Search Services are professional services exempt from the public bidding requirements of the Local Public Contracts Law, pursuant to N.J.S.A. 40A:11-5(1)(a)(i), because these services are to be rendered by a person (or persons) authorized by law to practice a recognized profession, whose practice is regulated by law, and the performance of which services requires knowledge of an advanced type in a field of learning acquired by a prolonged formal course of specialized instruction and study as distinguished from general academic instruction; and
WHEREAS, pursuant to the requirements of an agreement between the City of Newark and the State of New Jersey for the receipt of Transitional Aid to Localities, all contracts exempt from public bidding requirement shall be procured pursuant to the "fair-and-open" process described in N.J.S.A. 19A:44A-20.5, et seq.; and
WHEREAS, in order to comply with the above Transitional Aid Agreement, on June 12, 2012, August 7, 2012 ...
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