71-24 DWOA Budget presntation.pdf

71-24 ee te REDEVELOPMENT agreement with Matrix Development Croup to build a movie studio DOWNTOWN ‘West Orange ee a ~—s| MEWS 12 NJ featured Downtown in several segments Return of REALTOR OPEN HOUSE NJ Economic Development Authority Workshop on Grant & Financing =e Opportunities for small businesses —— — Se III ILO ES a Sea ae eee

Return of RESTAURANT (| WEEK 29 participating restaurants New WEBSITE launch with : “| |)\)8000 users Street Fair - 6000 St. Patrick’s Day Parade | attendees : - over 10,000 attendees INSTAGRAMreach ||| >” (up from 5000 in 2022) FACEBOOKreach ~~ Inaugural Downtown Holiday Open House - merease |) 3) Foe! over 500 attendees _. WEST ORANGE APP since launch (up 200 from 2022) 100 participants Trick-or-Treating - over

Proposed Budget 2024: REVENUE SID ASSESSMENTS (Up $2000 from 2023 based on increase in assessed value) Township Contribution Cash (No change from 2023) Township Contribution In-Kind (No change from 2023) Funds Carried Forward Mayor's 5K Fundraising (Promotional Events) Additional Support from West Orange Township Interest Income TOTAL REVENUE $135,000 $65,809 $28,000 $5000 $5000 $30,000 $20,000 $100 $288,909

Proposed Budget 2024: EXPENSES Total Office Operations || $102,000 Total In-Kind ee $28,000 Economic Development | | $3,909 Insurance & Professional Services J $5,000 Marketing & Promotions ($3000 less than 2023) re | $74,250 Organization Ll $6,600 Visual Improvement ($5000 more than 2023) Fa $69,150 TOTAL EXPENSES $288,909

Township contribution dollars go towards: Holiday Decorations/Snowflakes Garbage Cans & Maintenance Beautification/Planters Sidewalk & Parking Lot Maintenance KK ime ite see: >i