Title
Dept/ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2023 Annual Budget for the Newark Downtown District Management Corporation (NDD)
Purpose: Reading and Adopting the 2023 Annual Budget of Newark Downtown District.
Amount: $8,335,000.00
Budget Period: January 1, 2023 through December 31, 2023
Additional Information:
Budget Introduction authorized by Resolution 7R2-j adopted on May 24, 2023.
A Public Hearing will be held during the Special Meeting/Conference on Tuesday, June 27, 2023 at 10:00 A.M. in the Council Chamber.
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WHEREAS, on May 24, 2023, the Municipal Council adopted Resolution 7R2-j, which introduced the proposed annual budget of the Newark Downtown District Management Corporation ("NDD") for the fiscal year 2023, (January 1, 2023, through December 31, 2023), ("FY 2023"), in the amount of Eight Million, Three Hundred Thirty-Five Thousand, Dollars and Zero Cents ($8,335,000.00), and directed the Department of Economic and Housing Development to schedule a Public Hearing on the Budget 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 NDD Budget for FY 2023 and the time and place for the June 27, 2023, Public Hearing in the Star Ledger on June 12, 2023, which advertisement date is at least ten (10) days prior to the Public Hearing date of June 27, 2023, as required by N.J.S.A. 40:56-84 (d); and
WHEREAS, the Tuesday, June 27, 2023 Public Hearing date, is no less than twenty-eight (28) days from May 24, 2023, 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 NDD Budget for FY 2023 in a public place where public notices are customarily posted, within the basement area of Newark City Hall, and a copy of said Budget was and will be made a...
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