Dept/ Agency: Economic and Housing Development Action: (X) Ratifying ( X ) Authorizing ( ) Amending Type of Service: Memorandum of Understanding (MOU) Purpose: Partnership with NJ SHARES, Inc. and the City of Newark Office of Tenant Legal Services (“OTLS”) Entity Name: NJ SHARES, Inc. Entity Address: 1901 N. Olden Avenue, Suite 40, Ewing, New Jersey 08618 Operating Budget: $372,000.00 Funding Source: NJ SHARES, Inc. Contract Period: September 1, 2020, through August 31, 2021 Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale ( ) Grant ( ) Sub-recipient ( X ) n/a Additional Information: NJ SHARES, Inc. is a 501(c)(3) nonprofit organization that provides monetary assistance to low and moderate income individuals and households who are at risk for eviction due to back rent owed to their landlords. The NJ SHARES SMART Program funding is made available to eligible Newark residents, in an amount not to exceed $2,000.00, within a twelve (12) month period per household, with respect to eviction actions for back rent.