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City of Newark Awards $30,000,000 Loan Agreement Contract to State of New Jersey (August 2025)

City of Newark
Disclosed value
$30,000,000.00
From minutes
Approved
Aug 28, 2025
Term
June 28, 2024 through September 30, 2031

The 30-second brief

What it covers

City ratifies amendments to the CY 2024 Transitional Aid Loan Agreement, extending the repayment period and establishing the terms of a new $30,000,000 Transitional Aid Loan for CY 2025.

Who holds it

State of New Jersey holds this loan agreement contract with City of Newark. Its other public contracts on record include work for Hamilton Township Public School District and Roxbury Township School District.

What happens next

Term as filed: June 28, 2024 through September 30, 2031.

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Contract details

Contract type
Loan Agreement
Amount
$30,000,000.00
Document date
August 28, 2025
Term
June 28, 2024 through September 30, 2031
Vendor
State of New Jersey
Agency
City of Newark
Source document
city-of-newark-municipal-council-meeting-minutes-august-28-2025_e1f.pdf (Minutes)

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Questions about this contract

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

State of New Jersey was awarded this loan agreement contract by City of Newark, as recorded on August 28, 2025. The contract value is $30,000,000.00.

How much is the State of New Jersey contract with City of Newark worth?

The State of New Jersey contract with City of Newark is valued at $30,000,000.00, covering loan agreement work.

What type of contract is this?

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

Where was this contract approved?

This contract appears in city-of-newark-municipal-council-meeting-minutes-august-28-2025_e1f.pdf (Minutes), 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 State of New Jersey hold?

State of New Jersey 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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