Title
Dept./ Agency: Economic and Housing Development
Action: ( X ) Ratifying ( X ) Authorizing ( ) Amending
Type of Service: 2019 Annual Budget for Partnership West, Inc. Special Improvement District Management Corporation
Purpose: Introducing and Approving the 2019 Annual Budget for the West Ward Special Improvement District
Amount: $500,000.00
Budget Period: January 1, 2019 through December 31, 2019
Additional Information:
Ordinance 6PSF-a adopted on December 21, 2016, created the West Ward Special Improvement District in the West Ward
body
WHEREAS, by Ordinance 6PSF-a, adopted on December 21, 2016 (the “Ordinance”), 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., to be known as the West Ward Special Improvement District (the “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, the Mayor and the Municipal Council designated a non-profit corporation, the Partnership West, Inc. Special Improvement District Management Corporation., as the district management corporation for the District (the “District Management Corporation”), pursuant to the Ordinance and N.J.S.A. 40:56-65 (c); 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
WHEREAS, in accordance with N.J.S.A. 40:56-80, the District Management Corporation must prepare a detailed annual budget that includes an estimate of the annual costs of operating the District including a summary of the categories of cost properly chargeable as follows:
(1) the amount of such costs to be charged against the general funds of the municipality, which shall be that amount which the municipality would pay from its general funds for street maintenance and operation on a street of similar size and location, but not improved in a special improvement district;
(2) the costs charged and assessed against properties within the District in proportion to the benefits conferred by the annual improvement; and
(3) the amount of costs, if any, to be specially taxed against properties in the District; and
WHEREAS, upon receipt of the budget, the Municipal Council is required to consider the budget, approve the budget, schedule a public hearing and adopt the budget with such amendments as the Governing Body considers necessary to operate and maintain the District during the ensuing fiscal year; and
WHEREAS, upon approval of the budget, the Tax Assessor must comply with N.J.S.A. 40:56-80(c) including, but not limited to, preparing an assessment roll setting forth separately the amounts to be specially assessed against the benefited and assessable properties in the District; and
WHEREAS, the estimated Annual Budget for the calendar year 2019 (January 1, 2019 through December 31, 2019), in the amount of $500,000.00 (Five Hundred Thousand Dollars and Zero Cents) for the District, was unanimously approved by the District Management Corporation at its March 15, 2019 meeting of the Board of Directors.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The estimated Annual Budget for the calendar year 2019 (January 1, 2019 through December 31, 2019), in the amount of $500,000.00 (Five Hundred Thousand Dollars and Zero Cents), for the West Ward Special Improvement District (the “District”), as approved by the District Management Corporation at its March 15, 2019 meeting of the Board of Directors, is hereby introduced and approved, subject to a public hearing prior to adoption, in accordance with provisions of Ordinance 6PSF-a, adopted on December 21, 2016, and as set forth in N.J.S.A. 40:56-80 and N.J.S.A. 40:56-84.
2. The budget is ratified from January 1, 2019 until the date of the adoption by the Newark Municipal Council.
3. The Tax Assessor is directed to do the following:
(a) Prepare an assessment roll specifying the amounts specifically assessed against each benefitted and assessable property in the District in proportion to the benefit conferred, based upon the approved budget in accordance with the procedures prescribed in N.J.S.A. 40:56-80(c); such assessment roll shall include a description of each property and the names of the owners; and
(b) File the assessment roll in the Office of the City Clerk to be available for public inspection.
4. The Department of Economic and Housing Development will do the following:
(a) Schedule a public hearing on the budget and the amount of the assessments not less than 28 days from the date of the adoption of this Resolution;
(b) At least 10 days prior to the date of the hearing publish:
(i) a notice setting the time and place of the public hearing on the budget and amounts of the special assessments; and
(ii) a copy of the entire budget in a newspaper of general circulation in the City of Newark; and
(c) At least 10 days before the date of the scheduled hearing:
(i) post a complete copy of the approved budget in City Hall in the customary location for posting public notices;
(ii) post a complete copy of the assessment roll in City Hall in the customary location for posting public notices; and
(iii) make available a copy of the budget to any person requesting it up to and including the date of the public hearing.
5. Upon approval of the assessment roll with any changes approved by the Municipal Council, the City Clerk shall immediately certify a copy of the assessment roll to the County Tax Board to be effective as of January 1, 2019.
6. The amount anticipated to be raised by the special assessments to support the Annual Budget of the District Management Corporation for the calendar year 2019 (January 1, 2019 through December 31, 2019) is estimated to be $500,000.00 (Five Hundred Thousand Dollars and Zero Cents). Said total estimated amount of the special assessments set forth in the estimated and approved budget shall be paid over to the District Management Corporation in installments of 25% of the total estimated assessments quarterly.
7. The Department of Economic and Housing Development will file a certified copy of this resolution with the Office of the City Clerk.
8. The Office of the City Clerk shall forward certified copies of this resolution to the Business Administrator, the Director of Finance, Tax Collector and Tax Assessor.
STATEMENT
This resolution introduces, approves and ratifies the estimated annual budget of the West Ward Special Improvement District in the estimated amount of $500,000.00 (Five Hundred Thousand Dollars and Zero Cents), for the calendar year 2019 (January 1, 2019 through December 31, 2019), subject to a public hearing prior to adoption, in accordance with provisions of Ordinance 6PSF-a, adopted on December 21, 2016, and as set forth in N.J.S.A. 40:56-80 and N.J.S.A. 40:56-84. The Department of Economic and Housing Development will publically advertise the budget and schedule a public hearing; and direct the Tax Assessor to prepare an assessment roll of the properties within the district based upon the budget.