Title
Dept/ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2025 Annual Budget for Bloomfield Avenue - Lower Broadway Business Improvement District (BALB)
Purpose: Reading and Adopting the 2025 Annual Budget for Bloomfield Avenue - Lower Broadway Business Improvement District
Amount: $448,000.00
Budget Period: January 1, 2025 through December 31, 2025
Additional Information:
Budget Introduction authorized by Resolution 7R2-c adopted on March 5, 2025.
Public Hearing will be held on Wednesday, April 16, 2025, at 6:30 P.M.
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WHEREAS, on March 5, 2025, the Newark Municipal Council adopted Resolution 7R2-c, which introduced and approved the proposed budget of the Bloomfield Avenue - Lower Broadway Business Improvement District ("BALB") for the Fiscal Year 2025, January 1, 2025 through December 31, 2025 ("FY 2025"), in the amount of Four Hundred Forty-Eight Thousand Dollars and Zero Cents ($448,000.00); and
WHEREAS, the Department of Economic and Housing Development scheduled a public hearing upon said budget for April 16, 2025,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 BALB budget for FY 2025 and the time and place for the April 16, 2025, hearing in the April 2, 2025, Star Ledger, which advertisement is at least ten (10) days prior to the hearing date of April 16, 2025, as required by N.J.S.A. 40:56-84 (d); and
WHEREAS, the Wednesday, April 16, 2025, hearing date, represents no less than twenty-eight (28) days from March 5, 2025, 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 BALB budget for FY 2025 in a public place where public notices are customarily posted, within the basement area of Newark City Hall, and a copy of said budget will be made available t...
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