Title
Dept/ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2023 Annual Budget for Greater Newark Tourism Improvement District Management Corporation d/b/a The Greater Newark Convention and Visitors Bureau ("Bureau")
Purpose: Reading and Adopting 2023 Annual Budget for The Greater Newark Convention and Visitors Bureau.
Amount: $2,058,738.00
Budget Period: January 1, 2023 through December 31, 2023
Additional Information:
Budget Introduction authorized by Resolution 7R2-e adopted on September 7, 2023.
Public hearing will be held at the October 18, 2023 Regular Meeting at 6:30 P.M.
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WHEREAS, on September 7, 2023, the Newark Municipal Council ("Municipal Council") adopted Resolution 7R2-e, which introduced and approved the proposed annual budget of Greater Newark Tourism Improvement District Management Corporation d/b/a The Greater Newark Convention and Visitors Bureau ("Bureau") for the fiscal year 2023, January 1, 2023 through December 31, 2023 ("FY 2023"), in the amount of Two Million Fifty Eight Thousand Seven Hundred Thirty-Eight Dollars and Zero Cents ($2,058,738.00) of which, Two Hundred Seventy-Three Thousand Three Hundred and Thirty-Two Dollars and Zero Cents ($273,332.00) will be acquired through grants and Three Hundred Sixty Dollars and Zero Cents ($360.00) will be obtained from interest, and scheduled a public hearing upon said budget for October 18, 2023, as required under N.J.S.A. 40:56-84; and
WHEREAS, the Department of Economic and Housing Development publicly advertised the proposed Bureau's budget for FY 2023 and the time and place for the October 18, 2023, hearing in the Star Ledger on October 6, 2023, which advertisement is at least ten (10) days prior to the hearing date of October 18, 2023, as required by N.J.S.A. 40:56-84(d); and
WHEREAS, the hearing date of Wednesday, October 18, 2023, is no less than twenty-eight (28) days from...
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