HomeMy Public PortalAboutr 07:154
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No.
07-15.4
Dale of Adoption June 7, 2007
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BOROUGH OF CARTERET MICRO LOAN PROGRAM: PHASE II
RESOLUTION
'VHEREAS, the Borough of Carteret Urban Enterprise Zone Board unanimously
recommended the adoption of a resolution requesting funding to establish a
Financial Assistance/Loan Pool Prograni offered, primarily, to participants of
Cafteret Urban Enterprise Zone Program; and
"'HEREAS, 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
"'HEREAS, the Borough of Carteret and the Urban Enterprise Board has
reviewed the proposed purposes and adopted a resolution to initiate a program; and
'VHEREAS, tlus request is for the initiation of this program in the amount of
$150,000.00 (One hundred fifty thousand dollars and OOltOO); and
WHEREAS, pursuant to N.J.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$150,000.00 to the New Jersey Conunerce and Economic Growth
Commission to evaluate and approve the project entitled:
BOROUGH OF CARTERET MICRO LOAN/GRANT PROGRAM
fa 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.
'NO. 07-154
PAGE 2 of 2
BE IT FURTHER RESOLVED that the Borough Clerk shall forward certifled
copies of the resolution to the Urban Enterprise Zone Program Coordinator and
members of the Urban Enterprise Zone Board.
Adopted this 7th day of June, 2007 and
certified as a true copy of the original
on June 8th, 2007.
KATHLEENM. BARNEY, RIvlC1CMC
Municipal Clerk
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COUNCILl\lAN YES NO NV A.B. COUNCILMAN YES NO NV A.D.
BELLINO X NAPLES X
DIAZ X RIOS X
KRUH X SITARZ X
X_lndicaleVote All-Absent NV- Not Voting XOR _ Tntlkatcs Vole to Overrule VeW
Adopted at a meeting of the l'\'lunicipal Council ~une 7, 2007
, ,C)r!(PA .- 4
C K, G/
RECORD OF COUNCIL VOTE