Title
Dept/ Agency: Economic and Housing Development
Action: (X) Ratifying (X) Authorizing ( ) Amending
Type of Service: 2020 Annual Budget for Newark Downtown District Management Corporation (NDD)
Purpose: Reading and Adopting 2020 Newark Downtown District Budget
Amount: $5,071,250.00
Budget Period: January 1, 2020 through December 31, 2020
Additional Information:
Budget Introduction authorized by Resolution 7R2-h(S) adopted on July 14, 2020.
body
WHEREAS, on July 14, 2020, the Municipal Council adopted Resolution 7R2-h(S), which introduced and approved the proposed annual budget of the Newark Downtown District Management Corporation ("NDD") for the fiscal year 2020, January 1, 2020, through December 31, 2020, ("FY 2020"), in the amount of Five Million, Seventy One Thousand, Two Hundred Fifty Dollars and Zero Cents ($5,071,250.00) and scheduled a public hearing upon said budget for Tuesday, August 18, 2020, 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 NDD budget for FY 2020 and the time and place for the August 18, 2020, hearing in the Star Ledger on August 6, 2020, which advertisement date is at least ten (10) days prior to the hearing date of August 18, 2020, as required by N.J.S.A. 40:56-84(d); and
WHEREAS, the hearing date of Tuesday, August 18, 2020, is no less than twenty-eight (28) days from July 14, 2020, the date of the approved budget, as required by N.J.S.A. 40:56-84(e); and
WHEREAS, the NDD budget for FY 2020 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 Cl...
Click here for full text