Title
Dept/ Agency: Economic & Housing Development
Action: (X ) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2014 Annual Budget for Newark Downtown District Management Corporation (SID)
Purpose: Reading & Adopting 2014 NDD Budget
Amount: $3,461,500.00
Budget Period: January 1, 2014 through December 31, 2014
Additional Information:
Budget Introduction authorized by Resolution 7R3-A 040214
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WHEREAS, on April 2, 2014, the Newark Municipal Council adopted Resolution 7R3-A, which introduced and approved the annual budget of the Newark Downtown District Management Corporation ("NDD") for the fiscal year 2014 (January 1, 2014 through December 31, 2014) ("FY 2014"), in the amount of $3,461,500.00, and scheduled a public hearing upon said budget for Wednesday, May 7, 2014, as required under N.J.S.A.40:56-84, et seq.; and
WHEREAS, the proposed NDD budget for FY 2014 and the time and place for the May 7, 2014 hearing were publicly advertised in the Star Ledger on Tuesday, April 23, 2014, which date represents at least 10 days prior to the hearing date of May 7, 2014, as required by N.J.S.A. 40:56-84 (d); and
WHEREAS, the hearing date of Wednesday, May 7, 2014, represents no less than 28 days from April 2, 2014, the date of the approved budget, as required by N.J.S.A. 40:56-84 (e); and
WHEREAS, the NDD budget for FY 2014 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 2014 (January 1, 2014 ...
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