Title
Dept/ Agency: Economic & Housing Development
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2015 Annual Budget for Greater Newark Tourism
Improvement District Management Corporation (GNTID)
Purpose: Introducing and Approving 2015 Annual Budget for Greater Newark Tourism Improvement District (GNTID)
Amount: $1,319,000.00.
Budget Period: January 1, 2015 through December 31, 2015
Additional Information:
6PSF-h 061913 Authorized Creation of the Greater Newark Tourism Special Improvement District.
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WHEREAS, by Ordinance 6PSF-h, adopted on June 19, 2013, the Mayor 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. (the “Ordinance”), to be known as the Greater Newark Tourism Improvement District comprised of all hotel properties within the City (the “District”) to provide supplemental services within the District and collect a special license fee assessment on all affected property within the District, which fee assessments shall be collected by the owners of hotel properties within the District as an additional room fee and paid over to the City of Newark for the purpose of promoting the economic and general welfare of the District and the municipality; and
WHEREAS, by Ordinance 6PSF-h, the Mayor and the Municipal Council designated a non-profit corporation, the Greater Newark Tourism Improvement District Management Corporation (“the District Management Corporation”), as the management entity for the District; as enabled by N.J.S.A. 40:56-65 (c); and
WHEREAS, Robert Provost, Chairperson of the Greater Newark Tourism Improvement District Management Corporation, has certified on June 13, 2013 that he has caused to be filed a Certificate of Registration of Alternate Name of the Greater Newark Tourism Improvement District Management Corporation to be known as the Greater Newark Convention & Visitors Bureau; and
WHEREAS, the District 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 the Ordinance and the District; and
WHEREAS, in accordance with N.J.S.A. 40:56-80, the Municipal Council must review and approve a report of estimated costs and proposed assessments and fees to be charged for the operation of the District for the fiscal year; and
WHEREAS, in accordance with Section 6(b) of the Ordinance, the District Management Corporation shall submit a detailed annual budget for approval by the Mayor and Municipal Council in accordance with the procedure set forth in N.J.S.A. 40:56-84; and
WHEREAS, the report of costs estimates, assessments and fees to be charged and the annual budget for the District Management Corporation contribute to the goals and objectives for the District; and
WHEREAS, the amount anticipated to be raised through the special license fee assessment to support the annual budget of the District Management Corporation for the calendar year 2015 (January 1, 2015 through December 31, 2015) shall be One Million Three Hundred Nineteen Thousand Dollars and Zero Cents ($1,319,000.00) .
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The Mayor and Municipal Council are hereby authorized to approve the annual budget of Greater Newark Tourism Improvement District Management Corporation in the amount of $1,319,000.00 for the calendar year 2015 (January 1, 2015 through December 31, 2015), in accordance with provisions of Ordinance 6PSF-h adopted June 19, 2013, as set forth in N.J.S.A. 40:56-84.
2. Certified copies of this resolution will be forwarded to the Assistant Business Administrator, the Acting Director of Finance, Tax Assessor and Acting Tax Collector.
3. An executed copy of this resolution will be filed with the Office of the City Clerk.
STATEMENT
This resolution authorizes the Mayor and Municipal Council to approve the annual budget of the Greater Newark Tourism Improvement District Management Corporation in the amount of One Million Three Hundred Nineteen Thousand Dollars and Zero Cents ($1,319,000.00) for the 2015, in accordance with provisions of Ordinance 6PSF-h, adopted on June 19, 2013, as set forth in N.J.S.A. 40:56-84.