Title
Dept/ Agency: Economic & Housing Development
Action: ( X ) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2013 Annual Budget for Mt. Prospect Avenue Neighborhood
Improvement District (Mt. Prospect District)
Purpose: Introducing and Approving 2013 Mt. Prospect District Budget
Amount: $289,930.00
Budget Period: January 1 2013 through December 31, 2013
Additional Information:
Budget Introduction authorized by Ordinance 6S&FF 062007
$265,000.00 budget amount to be raised by taxes
$24,930.00 budget amount the sole responsibility of the Mt. Prospect Management Corporation
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WHEREAS, by Ordinance 6S&FF, adopted June 20, 2007, the Mayor and the Municipal Council created and designated within the City of Newark a Special Improvement District authorized pursuant to N.J.S.A. 40:56-65 et seq., to be known as the Mt. Prospect Avenue Neighborhood Improvement District (“Mt Prospect District”) and designated a nonprofit corporation, the Mt. Prospect Avenue Neighborhood Improvement District Management Corporation, (“Mt. Prospect Management Corporation”) to serve as the management and operating organization (the property boundaries for the Mt. Prospect Avenue Neighborhood District is attached hereto as “Attachment A” and made a part of this Resolution); and
WHEREAS, pursuant to Ordinance 6S&FF 062007, the Mt. Prospect Management Corporation was authorized to provide administrative, marketing and other services to benefit the businesses, employees, residents, visitors and consumers in the Mt. Prospect District and collect a special assessment on all affected properties within the Mt. Prospect District, which assessment shall be imposed by the City of Newark for the purpose of promoting the economic and general welfare of the Mt. Prospect District and the municipality; and
WHEREAS, the Mt. Prospect Management Corporation will provide administrative marketing and other services to benefit businesses, employees, residents, visitors and consumer...
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