Title
Dept/ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2019 Annual Budget for Mt. Prospect Avenue Neighborhood Improvement District Management Corporation for the Mt. Prospect Avenue Neighborhood Improvement District (MPANID)
Purpose: Reading and Adopting 2019 Annual Budget for Mt. Prospect Avenue Neighborhood Improvement District Management Corporation
Amount: $330,000.00
Budget Period: January 1, 2019 through December 31, 2019
Additional Information:
Budget Introduction authorized by Resolution 7R2-d(s) adopted on June 11, 2019.
The amount anticipated to be raised by special assessments to support the annual budget of the Mt. Prospect Management Corporation for the 2019 Budget Year (January 1, 2019 through December 31, 2019) is estimated to be $253,680.00.
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WHEREAS, on June 11, 2019 the Newark Municipal Council adopted Resolution 7R2-d (S), which introduced and approved the proposed budget for Mt. Prospect Avenue Neighborhood Improvement District Management Corporation for the Mt. Prospect Avenue Neighborhood Improvement District ("MPANID") ("FY 2019"), in the amount of $330,000.00, and scheduled a public hearing upon said budget for July 10, 2019, 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 budget for the Mt. Prospect Avenue Neighborhood Improvement District Management Corporation for the MPANID for FY 2019 and the time and place for the July 10, 2019 hearing were publicly advertised in the Star Ledger on June 13, 2019, which date represents at least 10 days prior to the hearing date of July 10, 2019, as required by N.J.S.A. 40:56-84 (d); and
WHEREAS, the hearing date of Wednesday, July 10, 2019, represents no less than 28 days from June 11, 2019 the date of the approved budget, as required by N.J.S.A. 40:56-84 (e); and
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