Title
Dept/ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2017 Annual Budget for the Ironbound District Management Corporation (IBID)
Purpose: Reading and Adopting 2017 Annual Budget of the Ironbound Business Improvement District
Amount: $840,000.00
Budget Period: January 1, 2017 through December 31, 2017
Additional Information:
Budget Introduction authorized by Resolution 7R2-d (s) adopted on February 7, 2017
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WHEREAS, on February 7, 2017, the Newark Municipal Council adopted Resolution 7R2-d(S), which introduced and approved the proposed budget of the Ironbound District Management Corporation (IBID) for the Year 2017, January 1, 2017 through December 31, 2017 ("FY 2017"), in the amount of $840,000.00 (Eight Hundred Forty Thousand Dollars and Zero Cents), and scheduled a public hearing upon said budget for March 15, 2017, as required under N.J.S.A. 40:56-84, et seq.; and
WHEREAS, the proposed IBID budget for FY 2017 and the time and place for the March 15, 2017 hearing were publicly advertised in the Star Ledger on March 3, 2017 which date represents at least ten (10) days prior to the hearing date of March 15, 2017, as required by N.J.S.A 40:56-84(d); and
WHEREAS, the hearing date of Wednesday, March 15, 2017, represents no less than 28 days from February 7, 2017, the date of the approved budget, as required by N.J.S.A. 40:56-84 (e); and
WHEREAS, the IBID budget for FY 2017 was also posted 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 to those persons requesting same during the week prior to and the day of the public hearing.
NOW, THEREFORE, BE IT RESOLVED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The City Clerk is hereby authorized to read the budge...
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