Newton may be getting a business improvement district

NEWTON — A proposed business improvement district will be discussed by the Newton council Monday night.

The district would be funded in part by a tax — 2 cents per $100 of assessed value — on commercial properties within the zone, the New Jersey Herald reported.

It would also receive funding from the town and solicit sponsorships.

Under the plan, the district would mirror the boundaries of the Newton Historic District, which includes 210 properties, the newspaper reported.

About half of the properties are either residential or tax-exempt.

The council on March 27 directed Town Manager Thomas Russo to draft an ordinance, the Herald …read more

Source: NJ.com Sussex

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