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No. 16-197 Date of Adoption. `"`� 2 016
APPROVINING THE CARTERET BUSINESS PARTNERSHIP, INC
2017 ANNUAL SID I BUDGET
LVHEREAS, the Carteret Business Partnership, Inc. (the "CBP "), the district
management corporation for the Borough of Carteret ( "Borough') Special
Improvement District ( "SID") has submitted its proposed SID I for the 2017 Calendar
Year ( "SID I Budget "), a copy which 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 Pdayor and Council of the Borough of
Carteret as follows:
1. That the above referenced 2017 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 said 20 S 1 Bud g_t
advertised in The Star Ledger in the issue of t 0
For a public hearing thereon to be held December 27, 2016, as provided
by law.
Adopted this 21", day of November, 2016 and
certified as a true copy of the original on
November 22, 2016.
KATHLEEN Ni. BARNEY, PINK
Municipal Clerk
RECORD OF COUNCIL VOTE
PRI O X _ JOHAL X
DIAZ X KRU X
DI MaS0I0 X ! I NAPi R' X
X - In dicate Vote AS - Anwar N`/ - Not Voting XOR - Indicates Vate to Override Vem
i
' Adopted at a meeune of the Municipal Council ( 21. 2016
�=
Administration - Operations
$19,700.00
Business Expenses
$5800.00
Capital Projects
$1,462,000.00
Events
$120,000.00
Facilities & Equipment
$90,000.00
Reserve
$5000.00
Payroll
$98,000.00
Professional Services
$105,000.00
Program Grants
$131,350.00
Program Services
$160,353.00
Total 2017 SID I Budget $2,197,203.00
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
Amount to be raised - SITS I assessments $2,017,203.00
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