Title
Dept/ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2019 Annual Budget for the Ironbound District Management Corporation (IBID)
Purpose: Reading and Adopting the 2019 Annual Budget of the Ironbound Business Improvement District
Amount: $880,650.00
Budget Period: January 1, 2019 through December 31, 2019
Additional Information:
Budget Introduction authorized by Resolution 7R2-d adopted on May 1, 2019.
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WHEREAS, on May 1, 2019, the Newark Municipal Council adopted Resolution 7R2-d, which introduced the proposed budget of the Ironbound District Management Corporation (IBID) for the Year 2019 (January 1, 2019 through December 31, 2019) ("FY 2019"), in the amount of $880,650.00 (Eight Hundred Eighty Thousand Six Hundred Fifty Dollars and Zero Cents), and scheduled a Public Hearing upon said budget for June 6, 2019, as required under N.J.S.A. 40:56-84, et seq.; and
WHEREAS, the Department of Economic and Housing Development publicly advertised the proposed budget for FY 2019 and the time and place for the June 11, 2019 hearing in the Friday, May 31, 2019 Star Ledger which advertisement is at least 10 days prior to the hearing date as required by N.J.S.A. 40:56-84(d); and
WHEREAS, the hearing date of Tuesday, June 11, 2019, represents no less than 28 days from May 1, 2019, the date of the approved budget, as required by N.J.S.A. 40:56-84(e); and
WHEREAS, the IBID Budget for FY 2019 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 will be 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 the b...
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