Title
ORDINANCE FOR THE CITY OF NEWARK SUPPORTING AND CREATING A PROPERTY TAX REWARD PROGRAM TO BE IMPLEMENTED AS PART OF THE "SHOP NEWARK" LOCAL CAMPAIGN.
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WHEREAS, the Newark Municipal Council desires to stimulate local commerce in the City by encouraging the patronage of Newark-based businesses by local residents and patrons; and
WHEREAS, the Newark Municipal Council has determined it is appropriate to permit "reward" type programs to give Newark taxpayers a financial incentive to patronize participating Newark-based businesses through obtaining a credit towards their property taxes and give non-taxpayers a financial incentive by providing rebate checks; and
WHEREAS, the goal of the program is to provide consumers with a financial incentive to patronize participating businesses in the form of a Property Tax Reward Program and at the same time provide City-based businesses with a financial incentive to enroll in the program in the form of increased patronage and revenues; and
WHEREAS, the Newark Municipal Council believes that the implementation of this program will benefit Newark-based businesses as well as resident taxpayers and patrons of Newark-based businesses.
NOW, THEREFORE, BE IT ORDAINED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
1. The Newark Municipal Council supports the implementation of the Property Tax Reward Program to be known as "Shop Newark", and hereby authorizes the Mayor and/or his designee, Deputy Mayor/Director of the Department of Economic and Housing Development to coordinate the implementation of the
Title X Finance and Taxation
Chapter 11. "Shop Newark" Property Tax Rebate Program
Section 1.
The Property Tax Rebate Program shall be established and called the "Shop Newark Property Tax Rebate Program".
Section 2.
The Property Tax Reward Program will be adminis...
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