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No. #24-63
Date of Adoption March 7, 2024
APPROVING THE CARTERET BUSINESS PARTNERSHIP, INC.
2024 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 2024 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 2024 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 2024 SID I Budget advertised in The Star
Ledger in the issue of April 1, 2024 for a public hearing thereon to be held on
April 11, 2024, as provided bylaw.
Adopted this Th day of March, 2024
and certified as a true copy of the
original on March 8, 2024.
CARMELA POGORZELSKI, RMC
Municipal Clerk
RECORD OF COUNCIL VOTE
COUNCILMAN
YES
NO
NV
A.D.
COUNCILMAN
YES
NO
NV
A.D.
BELLINO
X
JOHAL
X
DIAZ
X
KRDM
$
DIMASCIO
R
NAPLES
R
X-Indicate Vote AD -Absent NV -Not Voting XOR- Indicates Vote to Overrule Veto
Adopted at a meeting of the Municipal Council
March 1, 20 4
Mr m PAL CLE K
Carteret Business Partnership, Inc.
61 Cooke Avenue
Carteret, New Jersey 07008
732-541-3835
2024 — SID I Budget
Appropriations:
Administration: $75,000.00
Business Expense / Meetings
$50,000.00
Capital Projects
$1,000,000.00
CPAC
$1, 000,000.00
Events
$300,000.00
Facilities & Equipment
$20,000.00
Payroll
$500,000.00
Professional Services
$150,000.00
Program Grants
$300,000.00
Program Services
$100,000.00
Debt Service
$300,000.00
Marketing:
$500,000.00
Total 2023 Appropriations: $4,295,000.00
Revenues
Recycling Trust
$50,000.00
Clean Communities
$50,000.00
Loans Receivable
$150,000.00
Boro of Carteret- Budget Support
$500,000.00
Other Income:
$25,000.00
Total SID 12023 Revenues $775,000.00
Amount to be Raised by Taxation: $3,520,000.00
RESOLUTION: Adopting 2024 SID 1 and SID 2 Budgets
WHEREAS, the Carteret Business Partnership Board of Directors reviewed and discussed the budget for
2024 fiscal year, and
WHEREAS, on February 26, 2024 the Carteret Business Partnership, Inc. Board of Directors approved the
SID 1 and SID 2 budgets for 2024.;
NOW, THEREFORE, BE IT RESOLVED, that on this 26th day of February 2024, the Carteret Business
Partnership hereby approves the aforementioned budgets for the 2024 fiscal year.
ROLL CALL VOTE
Those in Favor: Reiman, D'Orsi, Wutkowski, Visceglia, Johal, Sica, Hruska
Abstained: N/A
Adopted this day of February 26, 2024
and certified as a true copy of the
Original on February 26, 2024
Hruska, Executive Director