Title
Dept/ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2025 Annual Budget for Mt. Prospect Avenue Neighborhood Improvement District Management Corporation for the Mt. Prospect Avenue Neighborhood Improvement District (MPANID)
Purpose: Reading and Adopting 2025 Annual Budget for Mt. Prospect Avenue Neighborhood Improvement District Management Corporation.
Amount: $330,000.00
Budget Period: January 1, 2025 through December 31, 2025
Additional Information:
Budget Introduction authorized by Resolution 7R2-d adopted on March 5, 2025
Public Hearing to be held on Wednesday, April 16, 2025, at 6:30 P.M.
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WHEREAS, on March 5, 2025, the Newark Municipal Council adopted Resolution 7R2-d, which introduced and approved the proposed budget for Mt. Prospect Avenue Neighborhood Improvement District Management Corporation for the Mt. Prospect Avenue Neighborhood Improvement District ("MPANID") ("FY 2025"), in the amount of Three Hundred ThirtyThousand Dollars and Zero Cents ($330,000.00); and
WHEREAS, the Department of Economic and Housing Development scheduled a public hearing upon said budget for April 16, 2025, 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 budget for the MPANID for FY 2025 and the time and place for the April 16, 2025, hearing in the Star Ledger on April 2, 2025, which date represents at least ten (10) days prior to the hearing date of April 16, 2025 as required by N.J.S.A. 40:56-84 (d); and
WHEREAS, the Wednesday, April 16, 2025, hearing date, represents no less than twenty-eight (28) days from March 5, 2025, the date of the approved budget, as required by N.J.S.A. 40:56-84 (e); and
WHEREAS, the Department of Economic and Housing Development posted the budget for the MPANID for FY 2025 in a public place where public noti...
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