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File #: 22-1485    Version: 1 Name: Ordinance: Expanding the Special Improvement District and Responsibilities of NDD
Type: Ordinance Status: Adopted
File created: 10/14/2022 In control: Administration
On agenda: 11/2/2022 Final action: 11/22/2022
Title: AN ORDINANCE AMENDING TITLE X, FINANCE AND TAXATION, CHAPTER 10:32-3, NEWARK DOWNTOWN SPECIAL IMPROVEMENT DISTRICT, OF THE REVISED GENERAL ORDINANCES OF THE CITY OF NEWARK, NEW JERSEY, 2000, AS AMENDED AND SUPPLEMENTED, BY AMENDING VARIOUS SUBSECTIONS, EXPANDING THE SPECIAL IMPROVEMENT DISTRICT, AND CLARIFYING THE RESPONSIBILITIES AND POWERS OF THE NEWARK DOWNTOWN DISTRICT MANAGEMENT CORPORATION. Deferred 6PSF-d 111422
Sponsors: Council of the Whole
Related files: 23-0131
Title
AN ORDINANCE AMENDING TITLE X, FINANCE AND TAXATION, CHAPTER 10:32-3, NEWARK DOWNTOWN SPECIAL IMPROVEMENT DISTRICT, OF THE REVISED GENERAL ORDINANCES OF THE CITY OF NEWARK, NEW JERSEY, 2000, AS AMENDED AND SUPPLEMENTED, BY AMENDING VARIOUS SUBSECTIONS, EXPANDING THE SPECIAL IMPROVEMENT DISTRICT, AND CLARIFYING THE RESPONSIBILITIES AND POWERS OF THE NEWARK DOWNTOWN DISTRICT MANAGEMENT CORPORATION.
Deferred 6PSF-d 111422
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WHEREAS, the City of Newark (the "City") is a municipal corporation organized and existing under the laws of the State of New Jersey and located in Essex County; and

WHEREAS, the City previously created a special improvement district in a portion of the Central Business District (the "SID") and designated the Newark Downtown District Management Corporation ("NDD") as the district management corporation to manage the SID; and

WHEREAS, based on more than twenty (20) years of successful operations by the NDD, the Mayor of the City of Newark and the Municipal Council have determined it to be in the best interest of the property owners, residents, and businesses located within the SID and those within an expanded area (as set forth herein) to expand the boundary of the SID to include such expanded area, and to clarify the services of the NDD so as to better perform its duties as the district management corporation for the SID and the City; and

WHEREAS, the City's experience with NDD has demonstrated the value provided by NDD in assisting the City in promoting economic growth and employment within the SID and serving as an important means of providing self-help and self- financing programs to enhance the commercial viability and attractiveness of the SID to new residents and investors.

NOW, THEREFORE, BE IT ORDAINED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY THAT:

Note: Additions are shown as underlined and bold. Deletions are shown as strikethroughs.

SECTION 1.

10:32-3.2 Findings.

Th...

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