Dept/ Agency: Economic and Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Grant Agreement Purpose: To grant financial assistance for the purchase of fixtures, furnishings, and equipment for the charitable and educational operations of GlassRoots, Inc. for the property located at 292-306 Dr. Martin Luther King Boulevard, Newark, New Jersey 07102, identified on the Official Tax Map of the City of Newark as Block 42, Lot 44.01 or such other property as may be determined pursuant to Section 4.4 of the Grant Agreement as defined herein. Entity Name: GlassRoots, Inc. Entity Address: 10 Bleeker Street, Newark, New Jersey 07102 Grant Amount: $500,000.00 Total Project Cost: $2,292,521.00 City Contribution: $500,000.00 Other Funding Source/Amount: $1,000,000.00 Nicholson Foundation; $75,000.00 Victoria Foundation; $50,000.00 Prudential Foundation; $35,000.00 Hyde & Watson Foundation; $25,000.00 MCJ Foundation; $49,995.00; and $479,150.00 Pledged Individual Gifts Grant Period: Commencing upon execution of an agreement and expires no later than December 31, 2020 Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS ( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ ( ) Private Sale (X ) Grant ( ) Sub-recipient ( ) n/a List of Property: (if applicable) (Address/Block/Lot/Ward) 292-306 Dr. Martin Luther King Boulevard/Block 42/Lot 44.01/Central Ward Additional Information: