Title
Dept/ Agency: Finance
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Purpose: Application to the Department of Community Affairs Urban Enterprise Zone Authority for Funding
Name of Project(s): Clean and Green Project
Amount to be Financed: $135,000.00 not to exceed the total UEZ requested amount
Funding Source: UEZ Funds
Local Finance Board meeting date(s): Not Applicable
Project Information:
(Description/ Project No./ Amount Appropriated/Ordinance No.)
Resolution of the Newark Municipal Council authorizing The Submission/ Acceptance of an Application to the New Jersey Urban Enterprise Zone Authority for the Newark UEZ Clean And Green Project.
Additional Information:
Invest Newark will act as the City’s Zone Development Corporation.
body
WHEREAS, on August 15, 1983, the State of New Jersey enacted the New Jersey Urban Enterprise Zones Act, P.L. 1983, c. 303 (N.J.S.A. 52:27H-60 et seq.), to foster an economic climate that revitalizes designated urban communities and stimulates their growth by encouraging businesses to develop and create private sector jobs through public and private investment; and
WHEREAS, N.J.S.A. 52:27H-72 extends the effective date of the City of Newark’s (“City’s”) Urban Enterprise Zone (“UEZ”) designation; and
WHEREAS, pursuant to N.J.S.A. 52:27H-67 and Ordinance 6PSF-b (“Ordinance”) adopted on June 24, 2020, the City designated Invest Newark, a NJ Nonprofit Corporation (”Invest Newark”) as the City’s zone development corporation for the purpose of operating, administrating, managing, and monitoring the City’s Urban Enterprise Zone Program and the “zone assistance funds” derived therefrom; and
WHEREAS, the Ordinance authorizes the Newark Municipal Council and Invest Newark to undertake economic development projects in the enterprise zone and to fund those projects from the City’s zone assistance fund allocation created pursuant to N.J.S.A. 52:27H-88; and
WHEREAS, funds from Fiscal Year 2023 are available from the said allocation in the amount of Seven Million Six Hundred Fifty-Five Thousand Seventy-Nine Dollars and Zero Cents ($7,655,079.00), which funds, if awarded, must be obligated by June 30, 2025; and
WHEREAS, the Board of Directors of Invest Newark, on July 30, 2024, adopted Resolutions (attached hereto as Exhibit A) proposing the undertaking of the Newark UEZ Clean and Green Project (“Project”) to be funded from zone assistance funds, and proposing such plan to be jointly adopted by resolution of the Newark Municipal Council after public hearing; and
WHEREAS, the Project provides supplemental sanitation services in the UEZ area from Mount Prospect Avenue between Tiffany Boulevard and 2nd Avenue, Bloomfield Avenue from Broadway to North 13th Street, Broadway from Gouverneur Street to Broad Street, and Broad Street from Bloomfield Place to Grant Street, including daily sweeping, graffiti removal, pressure washing, light landscaping, and support for special events, thereby supporting business operations and favoring new job growth in the district; and
WHEREAS, pursuant to N.J.S.A 52:27H-88(c), in order to obtain funds for the Project from zone assistance funds, the Governing Body must adopt a resolution approving the Project and authorizing the submission of the application for funding.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY THAT:
1. The Newark Municipal Council hereby authorizes and directs Invest Newark to submit an application to New Jersey’s Urban Enterprise Zone Authority (“UEZA”) to obtain funds not to exceed the total UEZ requested amount of One Hundred Thirty-Five Thousand Dollars and Zero Cents ($135,000.00) for the City of Newark’s UEZ Clean and Green Project.
2. If the UEZA approves the project and the requested funds, Invest Newark shall use the funds for the Newark UEZ Clean and Green Project (“Project”).
3. Any funds derived from Fiscal Year 2023 funds shall be obligated by June 30, 2025.
4. Invest Newark shall maintain all records related to the Project and shall provide the City a reporting of said records upon request by the City’s Business Administrator.
5. Pursuant to N.J.S.A. 52:15c-14(d) and N.J.A.C. 17:44-2.2, Invest Newark shall maintain all documents related to the Project for a period of five (5) years from the date of the final disposition of any funds authorized by this resolution.
6. A copy of any contracts executed in connection with the Project shall be filed in the Office of the City Clerk.
STATEMENT
This Resolution authorizes the submission/acceptance of an application to the New Jersey Department of Community Affairs’ Urban Enterprise Zone Authority for zone assistance funds for the Newark UEZ Clean and Green Project not to exceed the total UEZ requested amount of One Hundred Thirty-Five Thousand Dollars and Zero Cents ($135,000.00). The Project will provide supplemental sanitation services in the UEZ area from Mt. Prospect Avenue between Tiffany Boulevard and 2nd Avenue, Bloomfield Avenue from Broadway to North 13th Street, Broadway from Gouverneur Street to Broad Street, and Broad Street from Bloomfield Place to Grant Street, including daily sweeping, graffiti removal, pressure washing, light landscaping, and support for special events, therefore supporting business operations and favoring new job growth in the district.