24-0961

Dept/ Agency: Administration/Office of Business Administrator Action: (X ) Ratifying (X) Authorizing ( ) Amending Type of Service: Memorandum of Agreement Purpose: To establish a Guaranteed Education Pilot Program with Rutgers University, to provide financial assistance to at-risk, disadvantaged Newark residents, who meet certain specific qualification criteria and are directly impacted by violence. Entity Name: Rutgers, The State University of New Jersey Entity Address: 195 University Avenue, Newark, New Jersey 07102 Grant Amount: Not to exceed $300,000.00 annually or $1,200,000 over Four (4) Years Funding Source: 2024 Budget / Brick City Peace Collective Grant/ NW051, G24, A24J0, A-72030, B2024 Program Term: Maximum of four (4) years commencing on May 1, 2024 through May 1, 2029 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: In establishing this Guaranteed Education Pilot Program, Rutgers University shall serve as the City's agent for the administration and management of up to $1,200,000.00 to be paid over a potentially four-year period (not to exceed $300,000.00 per year or $15,000.00 per student, per year) commencing May 1, 2024, to be used towards the tuition and room and board payment for no more than twenty (20) students participating in the Guaranteed Education Pilot Program.

Resolution Adopted Introduced July 4, 2024

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