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HomeMy Public PortalAboutr 15-236o. 1 5-9'), Date of Adoption -Y 1 6, 2015 N APPROVING THE CARTERET BUSINESS PARTNERSHIP, INC. 2016 ANNUAL SID I BUDGET WHEREAS, the Carteret Business Partnership, Inc. (the "CBP "), tile district management corporation for the Borough of Carteret (`Borough ") Special Improvement District ( "SID "), has submitted its proposed SID I Budget for the 2016 Calendar Year ( "SID I Budget'), a copy of which is attached hereto, for ultimate adoption by the Governing Body; and WHEREAS, in accordance with the applicable law, the Governing Body wishes to hereby Introduce and Approve said SID I Budget as presented. NOW, THEREFORE, BE IT RESOLVED that the Mayor and Council of the Borough of Carteret as follows: That the above referenced 2016 SID I Budget is hereby Introduced and Approved by title. 2. That the Appropriate Borough Officials are hereby authorized and directed to take all necessary action to have the said 2016 SID I Budget advertised in The Star Ledger in the issue of November 27, 2015, for a public hearing thereon to be held on December 29, 2015, as provided by law. Adopted this 16" day of November, 2015 and certified as a true copy of the original on November 17, 2015. KATHLEEN M. BARNEY, NIMC Municipal Clerk RECORD OF COUNCIL VOTE COUNCILMAN YES NO i NV A.B. COUNCILMAN 1 YES NO NV A.B. BELLING X D X 1 X _�— DP IASCTO X- fruixate Vole AB- Abaene NV Not Vona NOR - Indicates VOte to 0 Veto Adopted at a meeting of the Municipal Council 7b 201 5 f t J Carteret Business Partnership, Inc. 2016 SID I Budget Carteret Business Partnership Description 2016 Budget Appropriation 2015 Capital Projects $1,000,000.00 Admin $2,650.00 Capital $150,000.00 Carteret Housing Dev Corp Grant $10,000.00 Engineering $20,000.00 Legal $10,000.00 Marketing /Community Investment $217,500.00 Micro Loan /Grant $150,000.00 Salaries & Wages $35,000.00 Small Business Programs $100,000.00 Supplenu.;.: a Sidewalk $155,000.00 Events $65,000.00 Recreation $30,000.00 Reserve $52,500.00 Grand Opening Grants/ Mail outs $50,000.00 Newsletter /Mailings /Meet ups $50,000.00 Total 2015 Budget $2,097,650.00 Revenue Recycling Trust $35,000.00 Clean Communities $35,000.00 Loan Receivables $100,000.00 Other Income $10,000.00 Total Revenue $180,000.00 SID I Budget Amount to be raised by SID Assessments $1,917,650.00 AFFIDAVIT OF PUBLICATION The following is a true copy of an Ordinance or Resolution of the Borough of Carteret that has appeared in the Star Ledger, a newspaper which is printed in Newark, New Jersey and published in Essex County, of general circulation in said county and state. One (1) tim November 27, 2015