Dept/ Agency: Finance Action: ( ) Ratifying (X) Authorizing ( ) Amending Purpose: Approving loan and escrow agreements for the Peddie CSO Project Amount to be Financed: $3,772,074.00 Source of Appropriation: New Jersey Infrastructure Bank Project Information: (Description/ Project No./ Amount Appropriated/Ordinance No.) RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF A PROJECT AGREEMENT TO BE EXECUTED BY THE CITY OF NEWARK, IN THE COUNTY OF ESSEX, NEW JERSEY AND THE STATE OF NEW JERSEY, ACTING BY AND THROUGH THE DEPARTMENT OF ENVIRONMENTAL PROTECTION, ALL PURSUANT TO THE STATE FISCAL YEAR 2025 WATER BANK FINANCING PROGRAM FOR FUNDING THE CITY’S IMPROVEMENTS TO THE PEDDIE CSO PROJECT Additional Information:

What this record is

Amount

$3.77M

Runs until

Not stated in the agenda text — the term is normally in the signed agreement, attached to the original item ↗

Type

amendment

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Read automatically from the title of the official record. The source document below is authoritative.

Committee

Finance

Introduced

May 1, 2025

On agenda

May 7, 2025

Passed

May 7, 2025

Where it was heard

Municipal Council May 7, 2025 Adopt Pass

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