File #: 23-1929    Version: 1 Name: Partnership West Inc. 2023 Annual Budget
Type: Resolution Status: Adopted
File created: 12/11/2023 In control: Economic and Housing Development
On agenda: 12/20/2023 Final action: 12/20/2023
Title: Dept./ Agency: Economic and Housing Development Action: (X) Ratifying (X) Authorizing ( ) Amending Type of Service: 2023 Annual Budget for Partnership West, Inc. Purpose: Introducing the 2023 Annual Budget for the West Ward Special Improvement District known as Partnership West, Inc. Amount: $500,000.00 Budget Period: January 1, 2023 through December 31, 2023 Additional Information: Ordinance 6PSF-a adopted on December 21, 2016, authorized the creation of the West Ward Special Improvement District in the West Ward.
Title
Dept./ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2023 Annual Budget for Partnership West, Inc.
Purpose: Introducing the 2023 Annual Budget for the West Ward Special Improvement District known as Partnership West, Inc.
Amount: $500,000.00
Budget Period: January 1, 2023 through December 31, 2023
Additional Information:
Ordinance 6PSF-a adopted on December 21, 2016, authorized the creation of the West Ward Special Improvement District in the West Ward.
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WHEREAS, on December 21, 2016, the Municipal Council adopted Ordinance 6PSF-a (the "Ordinance"), which created and designated within the City of Newark a special improvement district authorized pursuant to N.J.S.A. 40:56-65 et seq., to be known as the West Ward Special Improvement District (the "District"); and

WHEREAS, pursuant to the Ordinance and N.J.S.A. 40:56-65(c), Partnership West, Inc. ("the District Management Corporation"), a non-profit corporation, was designated by the Ordinance as the district management corporation for the District; and

WHEREAS, the District Management Corporation provides administrative and other services to benefit businesses, employees, residents, visitors and consumers in the District, assists in promoting economic growth and employment, and shall have all powers necessary and requisite to effectuate the purposes of the Ordinance; and

WHEREAS, in accordance with N.J.S.A. 40:56-80, the Municipal Council must review and approve a report of estimated costs and proposed assessments and fees to be charged for the operation of the District for the fiscal year; and

WHEREAS, in accordance with Section 6 of the Ordinance, the District Management Corporation shall submit a detailed business plan and budget for the upcoming year, including a report explaining how the budget contributes to the goals and objectives of the District, for approval by ...

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