HomeMy Public PortalAboutr 17-216Yvesolutt o f the �orough of Ta N- 04-
17 -216 Date of Adoption DacarbEr 7, 20 17
No
ADOPTING THE CARTERET BUSINESS PARTNERSHIP, INC.
2018 ANNUAL SID I BUDGET
WHEREAS, the Carteret Business Partnership, Inc. (the "CBP "), the district
management corporation for the Borough of Carteret ('Borough ") Special Improvement
District ( "SID "), adopted their SID I Budget for the 2018 Calendar Year ("SID I
Budget") at their November 14, 2017 meeting, a copy of which is attached hereto; and
WHEREAS, in accordance with the applicable law, the Governing Body wishes to
hereby Adopt said SID I Budget as presented.
NOW, THEREFORE, BE IT RESOLVED that the Mayor and Council of the Borough
of Carteret as follows:
1. That the above referenced 2018 SID I Budget is hereby Adopted.
2. That a copy of this resolution be forwarded to the Director of the
Carteret Business Partnership.
Adopted this 7 day of December. 2017
and certified as a true copy of the
original on December 8. 2017.
KATHLEEN M. BARNEY, MMC
Municipal Clerk
RECORD OF COUNCIL VOTE
COUNCILMAN
YES
NO
NV
A.B.
COUNCILMAN
YES
NO
NV
A.B.
Ba
X
MIAL
X
DIAZ
X
KRLN
X
DE+SCM
X
MAPLES
X
X - Indicate Vote AB - Absent NV - Not Vexing XOR - Indicates Vote to Overrule Veto
Adopted at a meeting of the Municipal Council
Dt�i- HIS 7' 2017
U
2018 - SID I Budget
Appropriation
Administration - Operations
$19,700.00
Business Expenses
$5800.00
Capital Projects
$1,550,000.00
Events
$100,000.00
Facilities & Equipment
$90,000.00
Reserve
$5000.00
Payroll
$260,000.00
Professional Services
$105,000.00
Program Grants
$131,350.00
Program Services
$160,353.00
Total 2017 SID I Budget t$2,427,203.00
Revenue
Recycling Trust $50,000.00
Clean Communities $50,000.00
Loan Receivables $120,000.00
Other Income $25,000.00
Total Revenue $245,000.00
Amount to be raised - SID I assessments $2,182,203.00