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AN ORDINANCE TO REPEAL ORDINANCES 6S & FN, NOVEMBER 13, 2000 AND 6S & FC, MAY 7, 2003, ESTABLISHING AND AMENDING THE IRONBOUND - FERRY STREET BUSINESS COMMUNITY AND DESIGNATING A DISTRICT MANAGEMENT CORPORATION, TO CREATE ANEXPANDED DISTRICT AND TO CHANGE REGULATIONS FOR THE OPERATION OF THE BUSINESS IMPROVEMENT DISTRICT.
Invitation: Engineering Director, December 18, 2012
Deferred 6PSF-c 020613/Public Hearing Open
Deferred 6PSF-b 022013/Public Hearing Open
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WHEREAS, the City of Newark (the “City”) previously created a Special Improvement District in a portion of the East Ward - Ferry Street business area, known as the Ironbound Special Improvement District and designated the Ironbound District Management Corporation (IBID), as the District Management Corporation to manage that District; and
WHEREAS, IBID has conducted a study to determine whether it would be desirable to expand their services to assist the Wilson Avenue business area, which includes parts of Jabez Street and Rome Street; and
WHEREAS, as result of the study, IBID believes that such expansion would be desirable; and
WHEREAS, based on twelve (12) years of successful operations by IBID, the Mayor and Newark Municipal Council agree that such expansion would be in the best interests of the City, its residents, and businesses; and
WHEREAS, the experience with IBID over that time has demonstrated that District Management Corporation assist municipalities in promoting economic growth and employment within business districts; and
WHEREAS, that experience has also demonstrated that Business Improvement Districts and the District Management Corporations are an important means of providing self-help and self-financing programs to enhance the commercial viability and attractiveness of the City of Newark and the East Ward.
NOW, THEREFORE, BE IT ORDAINED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT;
Ordinance 6S&FN, adopted on November 13, 2000, and amended by Ordi...
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