Dept/ Agency: Finance Action: ( ) Ratifying (X) Authorizing ( ) Amending Purpose: Application to Local Finance Board for approval of bond ordinance. Name of Project(s): Newark Riverfront Park, Nina Simone House Amount to be Financed: $5,400,000.00 Funding Source: Bonds Local Finance Board meeting date(s): November 12, 2020 and December 9, 2020 Project Information: (Description/ Project No./ Amount Appropriated/Ordinance No.) RESOLUTION OF THE CITY OF NEWARK, IN THE COUNTY OF ESSEX, NEW JERSEY APPROVING A REALLOCATION OF PSEG RAB PROCEEDS AND AUTHORIZING THE SUBMISSION OF AN APPLICATION TO THE LOCAL FINANCE BOARD PURSUANT TO N.J.S.A 40A:12A-29(a)(3) and N.J.S.A. 40A:12A-67(g) FOR APPROVAL OF THE MODIFICATION OF REDEVELOPMENT PROJECTS BUDGETS PREVIOUSLY APPROVED BY THE LOCAL FINANCE BOARD IN CONNECTION WITH THE ISSUANCE OF PSEG REDEVELOPMENT AREA BONDS. Additional Information: This application is to authorize an amendment to transfer authorized amounts from the Newark Riverfront Park project to the Nina Simone House project.