Dept/ Agency: Administration/Office of the Business Administrator Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Accepting a Gift Gift: Basic License Fee for the use of the Prudential Hall and ticketing services for the purpose of the 2024 State of the City Mayoral Address Purpose: To accept a gift and execute Short Term License Agreement with the New Jersey Performing Arts Center Corporation, for the use of Prudential Hall Theatre and the Parsonnet Room, valued at $14,000.00 and gift fee for ticketing services, a gift valued at $1,500.00 to be held on Tuesday, March 12, 2024, for a total combined gift of $15,500.00 and total amount not to exceed $60,000.00. Entity Name: New Jersey Performing Arts Center Corporation (NJPAC) Entity Address: One Center Street, Newark, New Jersey 07102 Gift Value: $15,500.00 City Contribution: An ancillary service fee in an amount not to exceed $60,000.00 Other Funding Source/Amount: $0.00 Contract Period: Tuesday, March 12, 2024 Additional Information: This Resolution authorizes the City, pursuant to N.J.S.A. 40A:5-29, to accept a gift of the basic license fee for the use of Prudential Hall and ticketing services, which is valued at $15,500.00. The Short Term License Agreement is in an amount not to exceed $60,000.00, representing ancillary service fees. No municipal funds will be expended for the acceptance of this gift.