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#22-9 Data ofAdonttonJanuary.6, 2022
APPROVING TILE CARTERET BUSINESS PARTNERSHIP, INC.
2022 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 "), has submitted 'its proposed SID I Budget for the 2022 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:
1. That the above referenced 2022 SID I Budget is hereby Introduced
and Approved by title.
2. That Appropriate Borough Officials are hereby authorized and
directed to take all necessary action to have the said 2022 SID I
Budget advertised in The Star Ledger in the issue of January 28,
2022 for a public hearing thereon to be held on February 10, 2022,
as provided by law.
Adopted this 6" day of January, 2022
and certified as a true copy of the
original on January 7, 2022.
CARMELA POGORZELSKI, RMC
Municipal Clerk
RECORD OF COUNCIL VOTE
COuNCU.MAN
YES
NO
NV
A.B.
COUNCILMAN
YES
NO
NV
A.B.
BEMINO
R
JOHAL
R
DIAZ
X
DIMASCIO
X
NAPLES
X
X- Indicate Vote
AB- Absent NV -Not Vadng XOR- Indicates Vote to Overrule Veto
Adopted at a meeting of the Municipal Council
•I
� January 6, 2022
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Carteret Business Partnership Inc.
2022 SID 1 Budget
Appropriation
$
35,000.00
Administration
$
55,000,00
Business Expenses / Meetings
$
20,000.00
Capital Projects
$
800,000.00
Operations
$
800,000.00
Events
$
250,000.00
Facilities & Equipment
$
250,000,00
Payroll
$
600,000.00
Professional Services
$
80,000.00
Program Grants
$
250,000.00
Program Services
$
100,000,00
Debt Service
$
300,000,00
Revenues
Total Sid 1 Budget Appropriations $ 3,505,000.00
Recycling trust
$
35,000.00
Clean Communities
$
25,000.00
Loans Receivable
$
120,000,00
BOC - Budget Allocation
$
500,000.00
Other Income
$
25,000.00
Total Sid 1 Revenues
$
705,000.00
Amount To Be Raised by Taxation -
SID 1 Assessment:
$ 2,000,000.00