The purposes of this chapter are to:
A. Foster the special improvement district's economic development, encourage
its revitalization and strengthen its economic and commercial contributions
to residents and property owners of the City of Hoboken.
B. Allow all those who live, work or invest in the SID to contribute
to the improvement of the district.
C. Foster the building of a nonpartisan private/public partnership to
implement the improvement of the Hoboken SID.
D. Foster and create self-help programs to improve the local business
climate.
As used in this chapter, the following terms shall have the
meanings indicated:
DISTRICT MANAGEMENT CORPORATION (also referred to as "DMC")
The Hoboken Business Alliance, Inc. (also referred to as
"HBA"), created by this chapter and designated by this chapter to
receive funds collected by a special improvement assessment within
the special improvement district, as authorized by this chapter and
any amendatory ordinances.
SPECIAL IMPROVEMENT DISTRICT (also referred to as "SID")
That area within the City of Hoboken, in its entirety and
as further described by block and lot numbers and street addresses
as set forth in Schedule A and designated by this chapter as an area in which a special
assessment on property within the SID shall be imposed for the purpose
of promoting the economic and general welfare of the SID and the City
of Hoboken in accordance with N.J.S.A. 40:56-65 et seq.
It is hereby determined that the operation and maintenance of the SID may involve annual costs relating to services unique to the SID that are distinguished from operation and maintenance services normally provided by the City of Hoboken outside the SID. Pursuant to this chapter and N.J.S.A. 40:56-80 et seq., those annual costs shall be assessed to the benefited properties or businesses within the SID. The properties to be assessed to provide for the payment of such annual costs are described in §
179-3 hereof.
[Amended 6-1-2022 by Ord. No. B-467]
A. The DMC shall submit to the Mayor and City Council a detailed annual
budget for each upcoming fiscal year no later than May 1 of the preceding
fiscal year, together with a report which explains how the budget
contributes to the goals and objectives for the district.
B. The budget shall be introduced, approved, amended and adopted by
the Mayor and City Council in accordance with N.J.S.A. 40:56-84.
The City of Hoboken shall not be responsible for any debt or
obligation of the DMC, and shall not pledge its full faith and credit
thereto, except as it shall choose to do so in specific instances
in accordance with all applicable laws.
Nothing contained herein shall prevent the Mayor and City Council,
at any time, subsequent to the adoption of this chapter, from, by
ordinance:
A. Abandoning the operation of the SID; changing the extent of the SID;
supplementing or amending the description of the SID to be specially
assessed or taxed for annual costs of the SID; changing or repealing
any plan, rules, requisitions or limitations adopted for the operation
of the SID, as set forth in N.J.S.A. 40:56-75; or
B. Rescinding the designation, redesignating, or designating a new district
management corporation to receive funds collected by a special improvement
assessment within the SID, and to exercise the powers granted to the
district management corporation by this chapter and any amendatory
ordinances.
If any provision of this chapter or the application thereof
to any person or circumstance is held invalid, such holding shall
not affect other provisions or applications of this chapter, and,
to this end, provisions of this chapter are severable.