Title
Dept/ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2023 Annual Budget for Bloomfield Avenue - Lower Broadway Business Improvement District (BALB)
Purpose: Reading and Adopting the 2023 Annual Budget for Bloomfield Avenue - Lower Broadway Business Improvement District (BALB)
Amount: $1,098,000.00
Budget Period: January 1, 2023 through December 31, 2023
Additional Information:
Budget Introduction authorized by Resolution 7R2-c adopted on September 20, 2023.
Public Hearing will be held at the November 1, 2023 Regular Meeting at 12:30 P.M.
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WHEREAS, on September 20, 2023, the Municipal Council adopted Resolution 7R2-c, which introduced and approved the proposed budget of the Bloomfield Avenue - Lower Broadway Business Improvement District ("BALB") for the Fiscal Year 2023, January 1, 2023 through December 31, 2023 ("FY 2023"), in the amount of One Million Ninety-Eight Thousand Dollars and Zero Cents ($1,098,000.00), of which Three Hundred Fifty Thousand Dollars and Zero Cents ($350,000.00) will be acquired though BALB's capital reserve and Three Hundred Thousand and Zero Cents ($300,000.00) through municipal grants; and
WHEREAS, the Department of Economic and Housing Development scheduled a public hearing upon said budget for November 1, 2023, as required under N.J.S.A. 40:56-84 et seq.; and
WHEREAS, the Department of Economic and Housing Development publicly advertised the proposed BALB budget for FY 2023 and the time and place for the November 1, 2023, hearing in the October 20, 2023, Star Ledger, which advertisement is at least ten (10) days prior to the hearing date of November 1, 2023, as required by N.J.S.A. 40:56-84 (d); and
WHEREAS, the Wednesday, November 1, 2023 hearing date, represents no less than twenty-eight (28) days from September 20, 2023, the date of the approved budget, as required by N.J.S.A. 40:56-84 (e); and
WHEREAS, t...
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