Title
Dept/ Agency: Administration/ Office of Management and & Budget
Action: ( ) Ratifying ( X ) Authorizing ( ) Amending
Type of Service: Temporary Emergency Appropriation
Purpose: Provide funds to promote economic growth (City-wide).
Funding Source: New Jersey Urban Enterprise Zone Authority
Appropriation Amount: $4,244,358.00
Budget Year: 2012
Contract Period: Upon Completion
Contract Basis: ( ) Bid ( ) State Vendor ( ) Prof. Ser. ( ) EUS
( ) Fair & Open ( ) No Reportable Contributions ( ) RFP ( ) RFQ
( ) Private Sale ( X ) Grant ( ) Sub-recipient ( ) n/a
Additional Information:
Operating Agency: Administration
Two-Thirds vote of full membership required
Invitation: Budget Director, April 3, 2012
Body
TE-#13
WHEREAS, an emergency has arisen in Special Item of Appropriation in the amount of $4,244,358.00 for New Jersey Urban Enterprise Zone Funding Fiscal Year 2012 and no adequate provision has been made in the 2012 Temporary Budget for the aforesaid purpose and N.J.S.A. 40A: 4-20 provides for the creation of an emergency appropriation for the purpose above-mentioned; and
WHEREAS, by award letter dated November 1, 2011, from the New Jersey Urban Enterprise Zone Authority, the City of Newark has been awarded $4,244,358.00 to provide these grant funds to promote economic growth (City-wide);and
WHEREAS, N.J.S.A. 40A:4-20 provides that the Governing Body by a two-thirds vote may make temporary emergency appropriations for any purpose for which appropriations may lawfully be made for the period between the beginning of the current fiscal year and the date of the adoption of the budget for said year; and
WHEREAS, emergency appropriation adopted in 2012 pursuant to N.J.S.A. 40A:4-20 including this resolution total..$9,370,654.00.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY,THAT:
1. A temporary emergency appropriation be and the same is hereby made for the following classification:
Account Program Amount
New Jersey Urban Enterprise $4,244,358.00
Zone
2. Said emergency appropriation shall be provided for in the 2012 budget.
3. A copy of this resolution shall be filed with the Director of Local Government Services by the City Clerk of the City of Newark.
4. A copy of this resolution shall be immediately filed with the City Clerk by the Budget Director of the City of Newark.
STATEMENT
This Legislation establishes the Appropriation for New Jersey Urban Enterprise Zone Funding Fiscal Year 2012, in the amount of $4,244,358.00 from the New Jersey Urban Enterprise Zone Authority. The Project period is upon completion (City-Wide).