Title
Dept/ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2024 Annual Budget for the Newark Downtown District Management Corporation (NDD)
Purpose: Reading and Adopting the 2024 Annual Budget of Newark Downtown District.
Amount: $8,335,000.00
Budget Period: January 1, 2024 through December 31, 2024
Additional Information:
Budget Introduction authorized by Resolution 7R2-d adopted on June 5, 2024.
Public Hearing to be held on Wednesday, July 10, 2024 at 12:30 P.M. in the Council Chamber.
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WHEREAS, on June 5, 2024, the Newark Municipal Council ("Municipal Council") adopted Resolution 7R2-d, which introduced the proposed annual budget of the Newark Downtown District Management Corporation ("NDD") for the fiscal year 2024, (January 1, 2024, through December 31, 2024), ("FY 2024"), 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 2024 and the time and place for the July 10, 2024, Public Hearing in the Star Ledger on June 28, 2024, which advertisement date is at least ten (10) days prior to the Public Hearing date of July 10, 2024 as required by N.J.S.A. 40:56-84 (d); and
WHEREAS, the Wednesday, July 10, 2024 Public Hearing date, is no less than twenty-eight (28) days from June 5, 2024, 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 2024 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 available to...
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