[Added 2-22-2016 by Ord. No. 003-2016]
A. Establishment of the District and Zone. The Town of Hammonton Downtown Improvement District (the "District") is hereby established, consisting of the properties designated and listed on Schedule A to Ord. No. 003-2016 annexed hereto by tax block and lot numbers. The District shall be managed by a District Management Corporation. A Downtown Business Improvement Zone is hereby created and designated and shall be co-extensive with the Improvement District.
B. Assessment. All costs of improvements and maintenance, other than the costs of improvements and maintenance ordinarily incurred by Town of Hammonton out of general funds, shall be determined and approved pursuant to N.J.S.A. 40:56-80 or N.J.S.A. 40:56-85 as determined by the District Management Corporation. A special assessment shall be assessed against the properties within the Downtown Improvement District for the purpose of promoting the economic and general welfare of the District, to be spent on those purposes permitted by N.J.S.A. 40:56-65 et seq. The foregoing special assessment shall not exceed one dollar ($1.00) per property.
C. Annual Report and Budgets. The District Management Corporation shall submit an annual report to the Town of Hammonton governing body pursuant to N.J.S.A. 40:56-80 within 30 days of the close of the fiscal year. This report shall consist of a narrative covering the previous year's operation and detailed financial statements.
(1) The District Management Corporation shall submit a detailed business plan and budget for the upcoming year no later than July 1 of the current fiscal year, for the approval by resolution of the Town Committee, pursuant to the provisions of N.J.S.A. 40:56-84. The budget shall be submitted with a report that explains how the budget contributes to the goals and objectives for the Downtown Improvement District.
(2) The fiscal year of the district and the management corporation shall be January 1st to December 31st, except that the first year of operation will commence upon adoption of this ordinance, and appointment and installation of the District Management Corporation.
(3) The District Management Corporation shall also cause an audit of its books, accounts and financial transactions to be made and filed with this governing body. This audit shall be completed and filed with Town of Hammonton within four months after the close of the fiscal year of the corporation. A certified duplicate copy of the audit shall be filed with the Director of the Division of Local Government Services in the State of New Jersey Department of Community Affairs within five days of the filing of the audit with this governing body.
D. District Management Corporation. The governing body of Town of Hammonton hereby designates the Hammonton Revitalization Corporation/MainStreet Hammonton Program ("District Management Corporation"), a non-profit corporation, as the District Management Corporation for the District and the Zone.
(1) The District Management Corporation shall be composed of the members in good standing of the board of directors of the Hammonton Revitalization Corporation/MainStreet Hammonton Program, plus one elected member of the Town of Hammonton Council.
(2) The District Management Corporation, in addition to acting as an advisory board to this governing body, shall have the following powers necessary and requisite to effectuate the purposes of this ordinance:
(a) Adopting by-laws for the regulation of its affairs and the conduct of its business, and prescribing rules, regulations, and policies for the performance of its functions and duties;
(b) Employing such persons as may be required, including an Executive Director to implement the day-to-day operational activities of the Corporation, and fixing and paying employee compensation from funds available to the corporation;
(c) Applying for, accepting, and administering and complying with the requirements respecting an appropriation of funds, or gifts, grants, or donations of property or money;
(d) Making and executing agreements which may be necessary or convenient to the exercise of the powers and functions of the corporation, including but not limited to, contracts such as loans or any other agreements with any persons, firms, corporations, governmental agencies, or entities;
(e) Administering and managing its funds and accounts and paying its own obligations;
(f) Borrowing money from private lenders and entities for periods not to exceed 180 days and from governmental agencies for that or longer periods;
(g) Providing security, sanitation, maintenance and other services in the district, supplemental to those normally supplied by Town of Hammonton;
(h) Undertaking improvements designed to increase safety and attractiveness of the district to businesses which may locate there or visitors to the district, including but not limited to litter clean-up and control, landscaping, façade, signage, and those improvements generally permitted for pedestrian malls under N.J.S.A. 40:56-66 pursuant to pertinent regulations of the governing body; and
(i) Publicizing the district and the businesses included within the district's boundaries.
(j) Application for and acceptance of funds or loans from the State of New Jersey, Department of Community Affairs, for Public Improvements and other Improvements as contemplated and defined by N.J.S.A. 40:56-71.1, et seq.
E. Municipal Powers Retained. Notwithstanding the creation of the Downtown Improvement District, Town of Hammonton expressly retains all of its powers and authority over the areas designated as within the District.
F. Debt Obligations. This ordinance obligates the Town of Hammonton Downtown Improvement District to satisfy all debts, loans, and financial liabilities incurred by the corporation. The District and the District Management Corporation may not borrow an amount that exceeds the ability of the approved budget for that fiscal year to pay the amount required by the instruments executed at the time the debt is incurred. Notwithstanding the foregoing, the Town of Hammonton Council may choose to supplement the revenue of the Downtown Improvement District in order to enable the District to perform necessary activities, or to incur debt to carry out those activities.
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