Title
Dept/ Agency: Economic & Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2016 Annual Budget for the BLC Special Improvement District Management Corporation
Purpose: Reading & Adopting 2016 BLC Special Improvement District Management Corporation Budget
Amount: $426,719.00
Budget Period: January 1, 2016 through December 31, 2016
Additional Information:
Budget Introduction authorized by Resolution #7R3-d 020316
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WHEREAS, on February 3, 2016, the Newark Municipal Council adopted Resolution 7R3-d, which introduced and approved the proposed budget of the BLC Special Improvement District Management Corporation (BLC) for the Year 2015 January 1, 2016 through December 31, 2016 ("FY 2016"), in the amount of $426,719.00 (Four Hundred Twenty-Six Thousand, Seven Hundred Nineteen Dollars and Zero Cents), and scheduled a public hearing upon said budget for March 2, 2016, as required under N.J.S.A. 40:56-84 et seq.; and
WHEREAS, the proposed BLC budget for FY 2016 and the time and place for the March 2, 2016 hearing were publicly advertised in the Star Ledger on February 12, 2016, which date represents at least ten (10) days prior to the hearing date of March 2, 2016, as required by N.J.S.A. 40:56-84(d); and
WHEREAS, the hearing date of Wednesday, March 2, 2016, represents no less than 28 days from February 3, 2016, the date of the approved budget, as required by N.J.S.A. 40:56-84(e); and
WHEREAS, the BLC budget for FY 2016 was also posted in a public place where public notices are customarily posted within the basement area of Newark City Hall, and a copy of said budget will be made available to those persons requesting same during the week prior to and the day of the public hearing.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The City Clerk is h...
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