The governing body of the City of Camden hereby finds that (1) the Downtown District as described by lot and block numbers and by street addresses in Schedules A and B attached hereto and incorporated by reference[1] would benefit from being designated as a special improvement district; (2) that a district management corporation would provide administrative and other services to benefit the businesses, employees, residents and consumers in the Downtown District; (3) upon implementation, a special assessment shall be imposed and collected by the City of Camden with the regular property tax payment or payment in lieu of taxes or otherwise, and that all or a portion of these payments shall be transferred to the district management corporation to effectuate the purposes of N.J.S.A. 40:56-65 et seq. and to exercise the powers given to it by municipal ordinance; and (4) that it is in the best interests of the City of Camden 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. 40:56-65 et seq. unless the Board of Directors of that corporation shall include at least one member of the governing body of the City of Camden.
[1]
Editor's Note: Said schedules are on file in the City offices.