Title
Dept/ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2021 Annual Budget for the Newark Downtown District Management Corporation (NDD)
Purpose: Reading and Adopting the 2021 Annual Budget of Newark Downtown District
Amount: $5,071,250.00
Budget Period: January 1, 2021 through December 31, 2021
Additional Information:
Budget Introduction authorized by Resolution 7R2-a(s) adopted on May 25, 2021.
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WHEREAS, on May 25, 2021, the Newark Municipal Council ("Municipal Council") adopted Resolution 7R2-a (s), which introduced the proposed annual budget of the Newark Downtown District Management Corporation ("NDD") for the fiscal year 2021, (January 1, 2021, through December 31, 2021), ("FY 2021"), in the amount of Five Million, Seventy One Thousand, Two Hundred Fifty Dollars and Zero Cents ($5,071,250.00), and directed the Department of Economic and Housing Development to schedule a public hearing on the budget 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 NDD Budget for FY 2021 and the time and place for the June 22, 2021, hearing in the Star Ledger on June 8, 2021, which advertisement date is at least ten (10) days prior to the hearing date of June 22, 2021, as required by N.J.S.A. 40:56-84 (d); and
WHEREAS, the Tuesday, June 22, 2021 hearing date, is no less than twenty-eight (28) days from May 25, 2021 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 NDD Budget for FY 2021 in a public place where public notices are customarily posted, within the basement area of Newark City Hall, and a copy of said budget was and will be made available to those persons requesting same during the week prior to and the day of the public hearing.
NOW, THER...
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