Dept./ Agency: Office of the Mayor Action: (X) Ratifying (X) Authorizing ( ) Amending Type of Service: Rescind Resolution 7R7-a122220 and authorize a Memorandum of Understanding and accept Grant Funding. Purpose: Rescinding Resolution 7R7-a adopted on December 22, 2020 and authorizing a Memorandum of Understanding to research and strategize a plan on how to implement a Guaranteed Income Pilot Program within the City of Newark. Entity Name: Reinvent Stockton Foundation Income Entity Address: 110 North San Joaquin Street, Stockton, California 95202 Grant Amount: $600,000.00 Funding Source: Reinvent Stockton Foundation and Mayors for a Guaranteed Income Total Project Cost: $0.00 City Contribution: $0.00 Other Funding Source/Amount: $0.00 Contract Period: September 1, 2020 through December 31, 2024 or until the Program is complete, whichever comes first 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: This resolution rescinds Resolution 7R7-a adopted on December 22, 2020 and all agreements authorized by the same, and provides for a new Memorandum of Understanding with additional funds.