Title
Dept./ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2022 Annual Budget for the Ironbound Business Improvement District Management Corporation (IBID)
Purpose: Reading and Adopting the 2022 Annual Budget of the Ironbound Business Improvement District
Amount: $1,055,000.00
Budget Period: January 1, 2022 through December 31, 2022
Additional Information:
Budget Introduction authorized by Resolution 7R2-c adopted on January 5, 2022.
Public Hearing will be held during the Regular Meeting on 2/2/22.
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WHEREAS, on January 5, 2022, the Municipal Council adopted Resolution 7R2-c, which introduced the proposed annual budget of the Ironbound Business Improvement District Management Corporation (IBID) for the Fiscal Year 2022 (January 1, 2022 through December 31, 2022) ("FY 2022"), in the amount of One Million Fifty-Five Thousand Dollars and Zero Cents ($1,055,000.00) 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, on January 24, 2022, the Department of Economic and Housing Development publicly advertised the proposed IBID budget for FY 2022 and the time and place for the February 2, 2022, hearing in the Star Ledger, which advertisement date represents at least ten (10) days prior to the hearing date of February 2, 2022, as required by N.J.S.A. 40:56-84 (d); and
WHEREAS, the Wednesday, February 2, 2022, hearing date, is no less than twenty-eight (28) days from January 5, 2022 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 IBID for FY 2022 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/will be made av...
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