Title
Dept./Agency: Law
Action: ( ) Ratifying (X) Authorizing ( ) Amending
Type of Service: Confirming Intent
Purpose: To extend Newark Downtown Special Improvement District's boundary
List of Properties:
(Address/Block/Lot/Ward)
Properties on Broad Street from Hill Street to Miller Street
Additional Information: List of properties (Block and Lot) attached
Invitation: Corporation Counsel, October 6, 2020
body
WHEREAS, on September 2, 1998 through Ordinance 6S&Fe, the Municipal Council created the Newark Downtown Special Improvement District (the "Improvement District") pursuant to N.J.S.A. 40:56-65 et seq., which was repealed and replaced by Ordinance 6PSF-c on February 20, 2013, expanding the Central Business Districts; and
WHEREAS, the Mayor and the Municipal Council designated the Newark Downtown District Management Corporation ("NDD") the district management corporation for the Improvement District pursuant to N.J.S.A. 40:56-65(c); and
WHEREAS, the Mayor and the Business Administrator (the "Administration") would like to expand the business district boundary of the Improvement District to include properties located on Broad Street between Hill Street and Miller Street (copies of the current boundaries and proposed area of expansion are attached); and
WHEREAS, the Administration believes that the City of Newark (the "City") would benefit by adding in these additional Blocks and Lots, in accordance with N.J.S.A. 40:56-68(b); and
WHEREAS, pursuant to N.J.S.A. 40:56-70, the City is requesting that NDD perform a feasibility study and develop preliminary plans based on the study to extend its boundary; and
WHEREAS, the Municipal Council concurs with the recommendation of the Administration that such expansion would benefit the City.
NOW, THEREFORE, BE IT RESOLVE...
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