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City of Newark Awards $22,000,000 Loan Agreement Contract to New Jersey Department of Community Affairs (August 2025)

City of Newark
Disclosed value
$22,000,000.00
From agenda
Approved
Aug 28, 2025
Term
June 28, 2024 through September 30, 2029

The 30-second brief

What it covers

Newark City Council authorized rescinding the previous resolution for the CY 2024 Transitional Aid Loan Agreement and allowing an amendment. This adjustment is necessary to permit changes to the CY 2024 agreement, addressing the structural budget with a new repayment schedule, in accordance with companion Resolution #25-1169.

Who holds it

New Jersey Department of Community Affairs holds this loan agreement contract with City of Newark. Its other public contracts on record include work for Township of Pennsville and Borough of Sayreville.

What happens next

Term as filed: June 28, 2024 through September 30, 2029.

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Contract details

Contract type
Loan Agreement
Amount
$22,000,000.00
Document date
August 28, 2025
Term
June 28, 2024 through September 30, 2029
Vendor
New Jersey Department of Community Affairs
Agency
City of Newark
Source document
city-of-newark-municipal-council-meeting-agenda-august-28-2025_7b4.pdf (Agenda)

New Jersey Department of Community Affairs's other public contracts

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Questions about this contract

Who was awarded the loan agreement contract by City of Newark?

New Jersey Department of Community Affairs was awarded this loan agreement contract by City of Newark, as recorded on August 28, 2025. The contract value is $22,000,000.00.

How much is the New Jersey Department of Community Affairs contract with City of Newark worth?

The New Jersey Department of Community Affairs contract with City of Newark is valued at $22,000,000.00, covering loan agreement work.

What type of contract is this?

This is a Loan Agreement contract, documented as a agenda record.

Where was this contract approved?

This contract appears in city-of-newark-municipal-council-meeting-agenda-august-28-2025_7b4.pdf (Agenda), dated August 28, 2025 from City of Newark. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

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What other contracts does New Jersey Department of Community Affairs hold?

New Jersey Department of Community Affairs may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

What is City of Newark currently buying?

Explore City of Newark's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

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