Title
AN ORDINANCE AMENDING AND SUPPLEMENTING TITLE II, ADMINISTRATION, CHAPTER 2:4, GENERAL ADMINISTRATION, ARTICLE 2, CONTRACTS WITH THE CITY, OF THE REVISED GENERAL ORDINANCES OF THE CITY OF NEWARK, NEW JERSEY, 2000, AS AMENDED AND SUPPLEMENTED, BY CREATING A NEW SECTION XXX, RESPONSIBLE PARTY, WHICH WILL REQUIRE ANY BUSINESS ENITITY TO IDENTIFY AND DESIGNATE A RESPONSIBLE INDIVIDUAL FOR ANY CITY CONTRACT(S) OR AGREEMENT(S) IN WHICH THAT BUSINESS ENTITY RECEIVES A FINANCIAL INCENTIVE OR COMPENSATORY BENEFIT FROM THE CITY OF NEWARK.
Deferred 6PSF-a 092122
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WHEREAS, the City of Newark has a significant interest in ensuring business entities that enter into agreement(s) for a financial incentive and/or compensatory benefit with the City, which include, but are not limited to Redevelopment Agreements, Redevelopment Area Bonds, and Long Term Tax Exemption have designated a responsible individual to ensure compliance with all local regulations and ordinance; and
WHEREAS, it is a privilege and not a right for the City to enter into agreements and/or contracts involving a financial incentive or compensatory benefit with business entities; and
WHEREAS, the City has an obligation to ensure the privilege afforded to those business entities are being properly complied and enforced.
NOW, THEREFORE, BE IT ORDAINED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
SECTION 1. The Revised General Ordinances XXX of the City of Newark, New Jersey, 2000, as amended and supplemented, shall include the following:
XXX a. Definition.
"Responsible Party" means an individual who is an officer, shareholder, member, manager, partner or other person authorized by the Entity to make day-to-day decisions relating to its business affairs, who has or will benefit, directly or indirectly, from the Entity's receipt.
XXX b. Statement of Policy.
The City of Newark has a significant interest in ensuring business entities that enter i...
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