Title
Dept/ Agency: Economic and Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Grant Agreement
Purpose: To grant financial assistance for the purchase of fixtures, furnishings, and equipment for the charitable and educational operations of GlassRoots, Inc. for the property located at 292-306 Dr. Martin Luther King Boulevard, Newark, New Jersey 07102, identified on the Official Tax Map of the City of Newark as Block 42, Lot 44.01 or such other property as may be determined pursuant to Section 4.4 of the Grant Agreement as defined herein.
Entity Name: GlassRoots, Inc.
Entity Address: 10 Bleeker Street, Newark, New Jersey 07102
Grant Amount: $500,000.00
Total Project Cost: $2,292,521.00
City Contribution: $500,000.00
Other Funding Source/Amount:
$1,000,000.00 Nicholson Foundation;
$75,000.00 Victoria Foundation;
$50,000.00 Prudential Foundation;
$35,000.00 Hyde & Watson Foundation;
$25,000.00 MCJ Foundation; $49,995.00; and
$479,150.00 Pledged Individual Gifts
Grant Period: Commencing upon execution of an agreement and expires no later than December 31, 2020
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale (X ) Grant ( ) Sub-recipient ( ) n/a
List of Property: (if applicable)
(Address/Block/Lot/Ward)
292-306 Dr. Martin Luther King Boulevard/Block 42/Lot 44.01/Central Ward
Additional Information:
body
WHEREAS, the Municipal Council ("Municipal Council") of the City of Newark (the "City"), encourages and supports the development of spaces for charitable and educational use for the benefit of the City's residents; and
WHEREAS, GlassRoots, Inc., 10 Bleeker Street, Newark, New Jersey 07102 ("GlassRoots") is a New Jersey non-profit corporation that provides, among other things, glass-art classes and entrepreneurship program...
Click here for full text