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AN ORDINANCE TO REPEAL ORDINANCE 6S&FE, SEPTEMBER 2, 1998 ESTABLISHING AND AMENDING THE NEWARK DOWNTOWN SPECIAL IMPROVEMENT DISTRICT AND DESIGNATING A DISTRICT MANAGEMENT CORPORATION, TO CREATE AN EXPANDED DISTRICT AND TO CHANGE REGULATIONS FOR THE OPERATION OF THE SPECIAL IMPROVEMENT DISTRICT.
Invitation: Engineering Director, December 18, 2012
Deferred 6PSF-d 020613/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 Central Business District (“CBD”) and designated the Newark Downtown District Management Corporation (“NDD”) as the District Management Corporation to manage that District; and
WHEREAS, NDD wishes to expand their services to assist a greater portion of the CBD as it is their belief that such expansion would be desirable; and
WHEREAS, based on 14 years of successful operations by NDD, the Mayor and Municipal Council agree that such expansion would be in the best interests of the City and its residents and businesses; and
WHEREAS, the experience with NDD over that time has demonstrated that district management corporations assist municipalities in promoting economic growth and employment within business districts; and
WHEREAS, that experience has also demonstrated that district management corporations are an important means of providing self-help and self-financing programs to enhance the commercial viability and attractiveness of the CBD;
NOW, THEREFORE, BE IT ORDAINED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
Ordinance 6S&FE 090298, adopted on September 2, 1998, and all amendments and supplements thereto, are hereby repealed in their entirety and replaced as follows:
SECTION 1. DEFINITIONS
a. "District Management Corporation" means the “Newark Downtown District Management Corporation” (or ”NDD”), an entity incorporated pursuant to Title 15A of the New Jersey Statutes and designated by this Ordinance to receive funds co...
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