Title
Dept/ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2020 Annual Budget for Greater Newark Convention and Visitors Bureau
Purpose: Introducing and Approving 2020 Annual Budget for Greater Newark Convention and Visitors Bureau
Amount: $2,272,100.00
Budget Period: January 1, 2020 through December 31, 2020
Additional Information:
Ordinance 6PSF-h adopted on June 19, 2013 authorized the creation of the Greater Newark Tourism Special Improvement District.
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WHEREAS, on June 19, 2013, the Municipal Council adopted Ordinance 6PSF-h, which the Mayor created and designated within the City of Newark as a Special Improvement District pursuant to N.J.S.A. 40:56-65 et seq. (the "Ordinance"), to be known as the Greater Newark Tourism Improvement District; and
WHEREAS, pursuant to N.J.S.A. 40:56-65(c), the Greater Newark Tourism Improvement District Management Corporation ("the District Management Corporation") a non-profit corporation, was designated by the Ordinance as the management entity for the Special Improvement District; and
WHEREAS, the District Management Corporation is comprised of all hotel properties within the City (the "District") to provide supplemental services within the District and collect a special license fee assessment on all affected property within the District, the fee assessments shall be collected by the owners or operators of hotel properties within the District as an additional room charge imposed upon such hotel owners and operators based upon actual room rentals and paid to the City of Newark in quarterly installments together with regular real property tax payments for the purpose of promoting the economic and general welfare of the District and the municipality; and
WHEREAS, the District Management Corporation provides administrative and other services to benefit businesses, employees, residents, visitors and...
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