Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Exception to Public Bidding - Agreement with Governmental Entity Purpose: Newark Math Success Initiative (MSI) Entity Name: New Jersey Institute of Technology (NJIT) Entity Address: University Heights, Newark, New Jersey 07102 Contract Amount: $445,024.46 Funding Source: Summer Youth Employment Program through gift from Community Fund of New Jersey Contract Period: July 6, 2020 through August 14, 2020 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: The total cost is $445,024.46. NJIT will contribute $177,943.53. Newark Board of Education will contribute $207,080.93. The City of Newark will contribute $60,000.00. Summer Youth Employment Program (SYEP) will be funded through a gift from the Community Fund of New Jersey provided in the form of stipends to fifty (50) students participating in the Math Success Initiative (MSI).