Dept/ Agency: Administration/Office of the Business Administrator Action: (X) Ratifying (X) Authorizing ( ) Amending Type of Service: Application and Agreements with EDA for the Fiscal Year 2021 American Rescue Plan Act - Build Back Better Regional Challenge Grant Purpose: Application/Acceptance with EDA for the Fiscal Year 2021 American Rescue Plan Act - Build Back Better Regional Challenge Grant and enter into an Agreement with New Jersey Institute of Technology. Entity Name: United States Department of Commerce (DOC), Economic Development Administration (EDA) Entity Address: 900 Market Street, Room 602, Philadelphia, Pennsylvania 19107 Total Grant Amount: $500,000.00 Funding Source: United States Department of Commerce (DOC), Economic Development Administration (EDA) Grant Period: December 15, 2021 through December 14, 2023 Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale (X) Grant ( ) Sub-recipient ( ) n/a Additional Information: Resolution 7R1-a, adopted on February 6, 2019, approved an Exception to Public Bidding - Agreement with Governmental Entity, NJIT, to formally strengthen and build capacity within the City of Newark to enhance and deliver services to the local community.