Title
Dept/ Agency: Economic and Housing Development
Action: ( X ) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2018 Annual Budget for the Ironbound District Management Corporation (IBID)
Purpose: Reading and Adopting 2018 Annual Budget of the Ironbound Business Improvement District
Amount: $880,650.00
Budget Period: January 1, 2018 through December 31, 2018
Additional Information:
Budget Introduction authorized by Resolution 7R2-f(AS) 032718
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WHEREAS, on March 27, 2018, the Newark Municipal Council adopted Resolution 7R2-f(AS), which introduced and approved the proposed budget of the Ironbound District Management Corporation (IBID) for the Year 2018January 1, 2018 through December 31, 2018 ("FY 2018"), in the amount of $880,650.00 (Eight Hundred Eighty Thousand Six Hundred Fifty Dollars and Zero Cents), and scheduled a public hearing upon said budget for April 24, 2018, as required under N.J.S.A. 40:56-84, et seq.; and
WHEREAS, the proposed IBID budget for FY 2018 and the time and place for the April 24, 2018 hearing were publicly advertised in the Star Ledger on April 11, 2018, which date represents at least ten (10) days prior to the hearing date of April 24, 2018, as required by N.J.S.A 40:56-84(d); and
WHEREAS, the hearing date of Tuesday, April 24, 2018, represents no less than 28 days from March 27, 2018, the date of the approved budget, as required by N.J.S.A. 40:56-84 (e); and
WHEREAS, the IBID budget for FY 2018 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 hereby authorized to read the budget for...
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