Title
Dept./ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2023 Annual Budget for the Ironbound Business Improvement District Management Corporation (IBID)
Purpose: Reading and Adopting the 2023 Ironbound Business Improvement District Budget
Amount: $1,215,000.00
Budget Period: January 1, 2023 through December 31, 2023
Additional Information:
Budget Introduction authorized by Resolution 7R2-d adopted on March 1, 2023.
Public Hearing to be held on Wednesday, April 19, 2023 at 6:30 P.M.
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WHEREAS, on March 1, 2023, the Municipal Council adopted Resolution 7R2-d (the "Introducing Resolution"), which introduced the proposed annual budget of the Ironbound Business Improvement District Management Corporation (IBID) for the Fiscal Year 2023 (January 1, 2023 through December 31, 2023) ("FY 2023"), in the amount of One Million Two Hundred Fifteen Thousand Dollars and Zero Cents ($1,215,000.00); and
WHEREAS, on April 6, 2023, the Department of Economic and Housing Development publicly advertised the proposed IBID budget for FY 2023 and the time and place for the April 19, 2023, hearing in the Star Ledger, which advertisement date is at least ten (10) days prior to the hearing date of April 19, 2023, as required by N.J.S.A. 40:56-84 (d); and
WHEREAS, the hearing date of Wednesday, April 19, 2023 is no less than twenty-eight (28) days from March 1, 2023, the date of the approved budget, as required by N.J.S.A. 40:56-84 (e); and
WHEREAS, the IBID Budget for FY 2023 was 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 was/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, TH...
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