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No. 104-352 Date of Adoption November 1~., 2004
BOROUGH OF CARTERET MICRO LOAN/GRANT
PROGRAM RESOLUTION
WHEREAS, the Borough of Carteret Urban Enterprise Zone Board unanimously .
recommended the adoption of a resolution requesting funding to establish a Financial
Assistance/Loan Pool Program offered, primarily, to participants of Carteret Urban
Enterprise Zone Program; and
WHEREAS, the Borough of Carteret and the Urban Enterprise Board wishes to
commence such a program to assist participating Urban Enterprise Zone businesses by
encouraging expansion and capital improvement projects by and for such businesses; and
WHEREAS, the Borough of Carteret and the Urban Enterprise Board has reviewed the
proposed purposes and adopted a resolution to initiate a program; and
WHEREAS, this request is for the initiation of this program in the amount of
$250,000.00 (Two Hundred Fifty Thousand Dollars and 00/100); and
WHEREAS, pursuant to NJ.S.52:27H-88(c), in order to fund the project from funds
deposited in the Enterprise Zone Assistance Fund, the governing body must adopt a
resolution approving the project and authorizing the submission of the application for
funding.
NOW, THEREFORE, BE IT RESOLVED that the Mayor and Council of the Borough
of Carteret does hereby authorize and direct the submission of a request in the amount of
$250,000.00 to the New Jersey Commerce and Economic Growth Commission to
evaluate and approval of the project entitled:
BOROUGH OF CARTERET MICRO LOAN/GRANT PROGRAM
to be funded from monies deposited in the Enterprise Zone Assistance Fund and credited
to the account of the Borough of Carteret, said account maintained by the State Treasurer
for the Enterprise Zone.
BE IT FURTHER RESOLVED that the Borough Clerk shall forward certified copies of
I the resolution to the Urban Enterprise Zone Program Coordinator and members of the
Urban Enterprise Zone Board.
Adopted this 15th day of November, 2004
and certified as a true copy the
original on November 16, 2004.
LINDA A. RIVERA
Assistant Municipal Clerk
RECORD OF COUNCIL VOTE
COUNCILMAN YES NO NV A.B. COUNCILMAN YES NO NV A.B.
KRUM X RIOS X
NAP1"'C X SITARZ X
PAllT<:T X SOSNOWSKI y
x - Indicate Vote AS - Absent NY - Not Voting XOR -Indicates Vote to Ovcrrule Veto en
Adopted at a meeting of the Municipal Council November is, 2004
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CLERK