CONTRACTAPPROVED

City of Newark Awards $52,000,000 Loan Agreement Contract to New Jersey Department of Community Affairs (August 2025)

Disclosed value: $52,000,000.00; From agenda
Approved: Aug 28, 2025
Term: June 28, 2024 through September 30, 2031

What it covers

The resolution finalizes 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, in addition to the existing $22,000,000 for CY 2024. The total loan amount is $52,000,000.00.

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, 2031.

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Contract details

Contract type: Loan Agreement
Amount: $52,000,000.00
Document date: August 28, 2025
Term: June 28, 2024 through September 30, 2031
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 $52,000,000.00.

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 $52,000,000.00, 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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