The purposes of this chapter are to:
A. Foster the District's economic development, encourage the District's
revitalization and strengthen the District's economic and commercial
contributions to residents and property owners of the Borough of Fort
Lee (also referred to as the "Borough").
B. Allow all those who live, work or invest in the District to contribute
to the improvement of the District.
C. Foster the building of a nonpartisan private/public partnership to
implement the improvement of the Fort Lee Special Improvement District.
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 Fort Lee District Management Corporation, Inc., an entity
incorporated pursuant to Title 15A of the New Jersey Statutes 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 "DISTRICT"
or "SID")
That area within the Borough of Fort Lee 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 District shall be imposed for the
purpose of promoting the economic and general welfare of the District
and the Borough of Fort Lee in accordance with N.J.S.A. 40:56-65 et
seq.
The Mayor and Council finds and declares that:
A. The Fort Lee Central Business District of the Borough of Fort Lee
has special needs and requires special services that can best be achieved
through a private/public partnership implemented by a Special Improvement
District (SID) and a District Management Corporation (DMC).
B. The creation of a special improvement district and designation of
a district management corporation will promote economic growth and
implement, foster and encourage commercial development business vitality,
expansion and self-help, and improve the business climate and otherwise
be in the best interest of the property owners in the District and
in the Borough of Fort Lee.
C. The area within the Borough of Fort Lee as described by lot and block
numbers and by street addresses, as set forth in Schedule A of this chapter will benefit from being designated as
a special improvement district.
D. A district management corporation will provide the administrative,
programming and other services to benefit the businesses, employees,
residents and consumers in the special improvement district and that
the district management corporation would assist the Borough of Fort
Lee in promoting economic growth, employment and development.
E. A special assessment shall be imposed and collected by the Borough
with the regular property tax payment or payment in lieu of taxes
or otherwise, and that all of these payments shall be transferred
to the district management corporation to effectuate the purposes
of this chapter and any amendatory ordinances statutes and to exercise
the powers given to it by this chapter.
F. It is in the best interests of the Borough of Fort Lee and the public
to create a special improvement district and to designate a district
management corporation; except that no district management corporation
shall be designated to receive any funds or to exercise any powers
pursuant to the provisions of N.J.S.A. 40:56-83 et seq., and any amendatory
or supplementary statutes, unless the board of directors of that corporation
shall include the Mayor of the Borough of Fort Lee or a member of
the Borough Council designated by the Mayor.
The Borough 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.