Title
Dept/ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2024 Annual Budget for Mt. Prospect Avenue Neighborhood Improvement District Management Corporation (MPANID)
Purpose: Introduction of the 2024 Annual Budget for the Mt. Prospect Avenue Neighborhood Improvement District.
Amount: $330,000.00
Budget Period: January 1, 2024 through December 31, 2024
Additional Information:
Ordinance 6S&Ff adopted on June 20, 2007 created the Mt. Prospect Avenue Neighborhood Improvement District.
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WHEREAS, by Ordinance 6S&Ff, adopted June 20, 2007, the Mayor of the City of Newark and the Municipal Council created and designated within the City of Newark, a Special Improvement District, authorized pursuant to N.J.S.A. 40:56-65 et seq., to be known as the Mt. Prospect Avenue Neighborhood Improvement District ("Mt. Prospect District") to provide supplemental services within the District and collect a special assessment on all affected property within the District, which assessments shall be collected by the City of Newark, for the purpose of promoting the economic and general welfare of the District and the municipality; and
WHEREAS, pursuant to Ordinance 6S&Ff, adopted on June 20, 2007, the Mayor of the City of Newark and the Municipal Council designated a non-profit corporation, the Mt. Prospect Avenue Neighborhood Improvement District Management Corporation, ("Mt. Prospect Management Corporation") to serve as the management and operating organization; and
WHEREAS, the Mt. Prospect Management Corporation provides administrative and other services to benefit businesses, employees, residents, visitors and consumers in the District and shall have all powers necessary and requisite to effectuate the purposes of Ordinance 6S&Ff adopted on June 20, 2007, and the Mt. Prospect District; and
WHEREAS, in accordance with N.J.S.A. 40:56-80 and the provisions of Ord...
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