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AN ORDINANCE AMENDING TITLE X, FINANCE AND TAXATION, CHAPTER 32, SPECIAL IMPROVEMENT DISTRICT, SECTION 10:32-3, NEWARK DOWNTOWN SPECIAL IMPROVEMENT DISTRICT, SUBSECTION 10:32-3.5, BUDGET AND ASSESSMENTS, OF THE REVISED GENERAL ORDINANCES OF THE CITY OF NEWARK, NEW JERSEY, 2000, AS AMENDED AND SUPPLEMENTED, BY ADDING SUBSECTION 10:32-3.5(M), AN ADMINSTRATIVE FEE OF ONE PERCENT (1%).
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WHEREAS, the City of Newark (the “City”) is a Municipal Corporation organized and existing under the laws of the State of New Jersey and located in Essex County; and
WHEREAS, the City previously created a special improvement district in a portion of the Central Business District (the “SID”) and designated the Newark Downtown District Management Corporation ("NDD"), as the district management corporation to manage the SID; and
WHEREAS, on November 22, 2022 the City adopted Ordinance 6PSF-b(S), which expanded the special improvement district and clarifying the responsibilities and powers of the Newark Downtown District Management Corporation; and
WHEREAS, the amended ordinance eliminated an administrative fee in error and the fee needs to be reinstated.
NOW, THEREFORE, BE IT ORDAINED by the Municipal Council of the City of Newark, New Jersey that:
Note: Additions are shown as underlined and bold. Deletions are shown as strikethroughs.
Section 1. That Subsection 10:32-3.5. Budget and Assessments, Section 10:32-3. Newark Downtown Special Improvement District, Chapter 32, Special Improvement District, Generally, of Title 10, Finance and Taxation, of the General Ordinances of the City of Newark, New Jersey, 2000, as amended and supplemented, be amended to add Subsection (m), to allow for the collection of an Administrative Fee of 1% to this Section as follows:
10:32-3.5 Budget and Assessments.
m. The City Tax Collector shall withhold from each quarterly payment an Administrative Fee of 1% of the amount actually collected by the Tax Collector.
Section 2. Severability. If any provision of this Ordinance or any Section, sentence, clause, phrase, or word or the application thereof, shall in any circumstance be held invalid, the validity of the remainder of this ordinance and the application of any such provision, Section, sentence, clause, phrase, or word shall not be affected and shall remain in full force and effect.
Section 3. This Ordinance shall take effect upon final passage and publication according to law.
STATEMENT
This Ordinance amends Title X, Finance and Taxation, Chapter 10:32, Special Improvement Districts, Section 3, Newark Downtown Special Improvement District, Subsection 10:32-3.5. Budget and Assessments, by amending and adding a 1% Administrative Fee that was inadvertently eliminated by amended ordinance 6PSF-b(S) adopted on November 22, 2022.