Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Support Resolution
Purpose: Loan application made by the West Ward Civic Cultural Educational Development Center, Inc. a/k/a West Ward Cultural Center Inc. ("WWCC") with financing the expansion of its current facility
Entity Name: New Jersey Economic Development Authority (the "NJEDA")
Entity Address: P.O. Box 990, Trenton, NJ 08625
Loan Amount: $500,000.00 (No obligation by the City of Newark to be responsible for carrying out the purpose or payment of the LDFF loan to WWCC)
Funding Source: N/A
Total Project Cost: $2,813,000.00
City Contribution: No municipal funds required
Contract Period: N/A
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) Non-Fair & Open ( ) RFP ( ) RFQ ( ) Private Sale
( ) Grant ( ) Sub-recipient (X) n/a
List of Property:
(Address/Block/Lot/Ward/Site Known As)
107 Roseville Avenue/Block 1906/Lot 5/West
Additional Information: N/A