File #: 13-0880    Version: 1 Name: NDD 2013 Budget Hearing Resolution File # 13-0880
Type: Resolution Status: Filed
File created: 5/2/2013 In control: Economic and Housing Development
On agenda: 5/15/2013 Final action: 5/22/2013
Title: Dept/ Agency: Economic & Housing Development Action: (X) Ratifying (X) Authorizing ( ) Amending Type of Service: 2013 Annual Budget for Newark Downtown District Management Corporation (NDD) Purpose: Reading & Adopting 2013 NDD Budget Amount: $2,763,250.00 Budget Period: January 1, 2013 through December 31, 2013 Additional Information: Budget Introduction authorized by Resolution 7R3-i 041713
Title
Dept/ Agency:  Economic & Housing Development
Action:  (X) Ratifying     (X) Authorizing     (   ) Amending
Type of Service: 2013 Annual Budget for Newark Downtown District Management Corporation (NDD)
Purpose: Reading & Adopting 2013 NDD Budget
Amount: $2,763,250.00
Budget Period:  January 1, 2013 through December 31, 2013
Additional Information:  
Budget Introduction authorized by Resolution 7R3-i 041713
body
WHEREAS,       on April 17, 2013, the Newark Municipal Council adopted Resolution 7R3-i, which introduced and approved the annual budget of the Newark Downtown District Management Corporation (“NDD”) for the fiscal year 2013 (January 1, 2013 through December 31, 2013) (“FY 2013”), in the amount of $2,763,250.00, and scheduled a public hearing upon said budget for Wednesday, May 15, 2013, as required under N.J.S.A.40:56-84, et seq.; and
 
WHEREAS,       the proposed NDD budget for FY 2013 and the time and place for the May 15, 2013 hearing were publicly advertised in the Star Ledger on Thursday, May 2, 2013, which date represents at least 10 days prior to the hearing date of May 15, 2013, as required by N.J.S.A. 40:56-84 (d); and
 
WHEREAS,       the hearing date of Wednesday, May 15, 2013, represents no less than 28 days from April 17, 2013, the date of the approved budget, as required by N.J.S.A. 40:56-84 (e); and
 
WHEREAS,       the NDD budget for FY 2013 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 was 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 by title the Newark Downtown District Management Corporation's (“NDD”) budget for the fiscal year 2013 (January 1, 2013 through December 31, 2013) (FY 2013).
  1. All the conditions outlined in paragraph (1) of N.J.S.A. 40:56-84 (f) have been satisfied.
  1. The NDD's budget for FY 2013 in the amount of $2,763,250.00 is hereby adopted.
  1. The Municipal Council hereby ratifies its authorization of the NDD budget from January 1, 2013 through the day of adoption of this authorizing resolution.
  1. A copy of this Resolution and the NDD budget for FY 2013 shall be placed on file in the Office of the City Clerk.
  1. The City Clerk's Office shall forward certified copies of this resolution to the Business Administrator, the Director of Finance, Tax Collector and Tax assessor.
  1. This Resolution shall take effect upon adoption as required under the laws of the State of New Jersey.
 
 
Statement
 
Resolution ratifies and  authorizes the City Clerk to read by title the Newark Downtown District Management Corporation's  budget for the fiscal year 2013 (January 1, 2013 through December 31, 2013) (FY2013) , in the amount of $ 2,763,250.00, and adopt said budget, pursuant to N.J.S.A.40:56-84, et seq.