Public Township Council Meeting — Packet

DRAFT PROPOSED REVISIONS – OCTOBER 2011 d. Special Improvement District assessments on mixed use commercial/residential properties will be based on one hundred (100%) percent of its assessed value. e. Unimproved property is deemed excluded from the assessing provisions of this ordinance and are expressly exempt from any assessment made for Special Improvement District purposes. f. All commercial property within the District shall be designated as either Tier I, Tier II or Tier III. Tier I properties shall be those commercial properties of which any portion of the property fronts on Main Street. Tier II are all other properties not included in Tier I and Tier III. Tier III properties shall be commercial buildings that are at least used eighty (80%) percent for office space. g. Tier I’s rate of assessment shall be greater than Tier II's rate of assessment. Tier II's rate of assessment shall be greater than Tier III's rate of assessment. (Ord. No. 1534-98 § 4; Ord. No. 1570-98 § II; Ord. No. 1593-99 § 4) 25-32.5 Assessment. a. All of the monies collected through the assessment, pursuant to this ordinance, shall be spent solely to benefit the properties included in the District. b. Failure of any property owner to pay the annual assessments shall be treated in the same manner as failure to pay property taxes as regulated by municipal and State laws. (Ord. No. 1534-98 § 5) 25-32.6 The Designated District Management Corporation. a. The Council of the Township of West Orange hereby designates Downtown West Orange Alliance, a nonprofit corporation, as the District Management Corporation for the District. b. On adoption of this ordinance, the Board of Trustees of the Downtown West Orange Alliance will immediately assume the management of the Special Improvement District. c. Board Members will serve until the election of new members at the first Annual Meeting, which shall be held within sixty (60) days of the adoption of this ordinance. (Ord. No. 1534-98 § 6; Ord. No. 1602-99 §§ II, III) 25-32.7 Membership. a. The membership of the Corporation shall be as follows: 1. The owners of real property, subject to the assessment under this ordinance, in the West Orange Special Improvement District as created by the Council

ration shall be as follows: 1. The owners of real property, subject to the assessment under this ordinance, in the West Orange Special Improvement District as created by the Council of West Orange. Each taxable property as determined by the Tax Assessor's office of the Township of West Orange shall be entitled to one (1) vote. 2. Persons who are legal tenants of property subject to the assessment in the District and who have paid an annual dues to the Corporation shall be entitled to one (1) vote. 3. Any business, organization or individual interested in supporting the purposes of the Corporation may become a non-voting ex-officio member by filing an application in such form as the Board shall prescribe, and paying such dues, if applicable, as the Board may establish. 4. The Board of Trustees, elected at the first Annual Meeting, will consist of eleven (11) voting members, composed of the following: (a) One (1) Township Council Member to be appointed by the majority vote of the Township Council. 195