Dept/ Agency: Economic & Housing Development Action: ( ) Ratifying (X) Authorizing ( ) Amending Type of Service: Resolution endorsing a Local Finance Board Application for PSE&G McCarter Switching Station Project Purpose: To provide a resolution of the City of Newark, in the County of Essex, New Jersey authorizing the submission of an application to the Local Finance Board pursuant to N.J.S.A. 40A:12A-67(g) in connection with the issuance of Redevelopment Area Bonds by the New Jersey Economic Development Authority (Non-Recourse to the full faith and credit of the City) to be secured by Pilot Payments from the PSE&G McCarter Switching Station Project. Additional Information: 17-53 Eleventh Avenue/Block 1830, Lot 10 478-492 Central Avenue/Block 1830, Lot 1