Dept/ Agency: Law Action: ( X ) Ratifying ( X ) Authorizing ( ) Amending Type of Service: Loan Agreement Purpose: To authorize the execution of the CY 2024 Transitional Aid (TA) Loan Agreement, as amended, and to provide for additional loan support for CY 2025 Entity Name: State of New Jersey, Department of Community Affairs, Division of Local Government Services Entity Address: 101 South Broad Street, 2nd Floor, P.O. Box 803, Trenton, New Jersey 08625-0803 Loan Amount: $22,000,000.00 (CY 2024) and $30,000,000.00 (CY 2025 Contract Period: Effective June 28, 2024 through September 30, 2031, and subject to terms of repayment as set forth in the Agreement 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: This resolution reflects amendments to the CY 2024 Transitional Aid Loan Agreement extending the repayment period and establishes the terms of a new $30,000,000 Transitional Aid Loan for CY 2025.

Resolution Adopted Introduced August 21, 2025

What this record is

Amount: $30.0M
Runs until: September 30, 2031 5 years away date quoted from the award document
Type: rfp

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