Title
AN ORDINANCE AMENDING TITLE X, FINANCE AND TAXATION, CHAPTER 32, SPECIAL IMPROVEMENT DISTRICTS, SUBCHAPTER 4, BLC SPECIAL IMPROVEMENT DISTRICT ("BLCSID"), OF THE REVISED GENERAL ORDINANCES OF THE CITY OF NEWARK, NEW JERSEY, 2000, AS AMENDED AND SUPPLEMENTED, BY AMENDING THE PROPERTIES INCLUDED IN THE BLCSID, TO REMOVE ALL THE CLASS 2 RESIDENTAL PROPERTIES AND AUTHORIZING THE TAX COLLECTOR TO WITHHOLD FROM EACH QUARTERLY PAYMENT 1% AS AN ADMINISTRATIVE FEE.
Deferred 6PSF-e 120424
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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, on April 17, 2013, the Newark Municipal Council ("Municipal Council"), pursuant to N.J.S.A. 40:56-65 et seq., adopted Ordinance 6PSF-B ("Creating Ordinance"), establishing a Special Improvement District ("SID")known as BLC Special Improvement District, consisting of the properties designated and listed on Schedule A, annexed hereto by tax block and lot numbers and street addresses, and designated BLCSID Partnership, Inc. as the District Management Corporation; and
WHEREAS, BLCSID Partnership, Inc., the Mayor of the City of Newark ("Mayor"), and the Municipal Council wish to amend the Creating Ordinance to remove the Class 2 Residential Properties included in the SID and referenced in Schedule A, and thus replacing the current Schedule A with the attached Schedule B, which is attached hereto and made a part hereof and will be the new Schedule A; and
WHEREAS, BLCSID Partnership, Inc., the Mayor, and the Municipal Council find it in the best interest of the City of Newark to authorize the Tax Collector to withhold, from each quarterly payment to BLCSID Partnership, Inc., an Administrative Fee of 1% of the Special Assessment actually collected by the Tax Collector.
NOW, THEREFORE, BE IT ORDAINED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY THAT:
Note: Additions ar...
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