Title
Dept/ Agency: Administration/Office of Business Administrator
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Memorandum of Understanding
Purpose: To authorize the execution of the CY 2014 Transitional Aid (TA) Memorandum of Understanding (MOU).
Entity Name: State of New Jersey, Division of Local Government Services/Department of Community Affairs
Entity Address: 101 South Broad Street, Trenton, New Jersey 08625-0803
Aid Amount: $10,000,000.00
Contract Period: Effective date through December 31, 2015 and/or until such later date as shall be determined in accordance with the terms of the MOU
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:
Originating Resolution 7R1-m(AS) adopted on August 6, 2014/File #14-1185
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WHEREAS, the City of Newark is facing a serious fiscal emergency, which required the submission of an application for CY 2014 Transitional Aid (TA) to Localities to the State of New Jersey, Department of Community Affairs; and
WHEREAS, the Director of the Division of Local Government Services has determined that the City of Newark shall receive an award of Ten Million Dollars ($10,000,000.00) of Transitional Aid (TA) to Localities; and
WHEREAS, the Department of Community Affairs and the City of Newark have agreed to the terms of a final Memorandum of Understanding (the 'MOU'); and
WHEREAS, the State of New Jersey, Department of Community Affairs, requires a resolution from the Governing Body authorizing the execution of the MOU, indicating its awareness of and acknowledging the contents thereof and agreeing to certain conditions.
Now, therefore, be it resolved by the Municipal Council of the City of Newark, that:
1. The Municipal Council of the City of Newark hereby authorizes the Mayor and/or his designee, the Assistant Business Administrator, to execute the final Memorandum of Understanding (MOU) as a condition of Transitional Aid (TA) to Localities.
2. The Municipal Council hereby acknowledges that it has reviewed the MOU and is therefore aware of the contents of the aforementioned MOU, including all of its terms and conditions, (a copy is hereby attached).
3. The provisions of the MOU shall remain in force and effect until December 31, 2015 and/or until such later date as shall be determined in accordance with the terms of the MOU.
4. A copy of the fully executed MOU shall be filed in the Office of the City Clerk and made available for public inspection.
5. This resolution shall take effect immediately.
STATEMENT
This resolution hereby authorizes the Mayor and/or his designee, the Assistant Business Administrator, on behalf of the City of Newark to execute the final Memorandum of Understanding (MOU) as a condition of Transitional Aid (TA) to Localities, acknowledging its contents and agreeing to all of its terms and conditions.