Q&A

Q & A

From the Public Presentation on Belmar SID Feasibility Study
December 15, 2009

Summary of Q & A:
Who will control the funds raised and who operates the SID?
The budget will be determined by the Board of Trustees of the SID, who have sole discretion and control of the funds received. However, each year after the budget is approved by the Board it is submitted to the Borough Council for a public hearing and final adoption. The funds are collected by the Borough and transferred to the District Management Corporation (DMC) which operates the SID via a Board of Trustees. The DMC is designated by the Borough Council in the enabling ordinance. All funds collected for the SID are expended by the SID Board.

If the businesses do not feel the SID is accomplishing objectives, how can it be terminated?
Each year the Board must approve a budget and submit it to the Borough Council for a public hearing and final approval. If the Board, the Council or a majority of businesses believe the SID is either not living up to the mission and objectives or delivering the services, the Council can not approve the budget and stop the funding, which would prevent the SID from collecting assessments.

How do we get Belmar residents to shop Belmar businesses?
This is one of the primary objectives of the SID: to assist and coordinate activities that will encourage residents to frequent the businesses in Belmar and assist in attracting new consumers.

How can I attend a SID work session?
It is suggested and recommended that if you would like to attend a work session that you familiarize yourself with the work that has been accomplished to date; this way the Steering Committee can conduct the business of the day. Dates and times of meetings will be posted on Belmar.com. There will be several more public meetings in the next few months.

Will we have another public session before the SID recommendations are presented to Council in February?
Yes the date is set for January 27, 2010 Borough Hall – 5:30pm.
The property assessment includes apartments above the stores. Should these residences be excluded from the assessment? Should there be a different formula?

As there are different zoning classifications for properties in Belmar, there are different formulas for the SID. The properties that have both commercial/retail and residential are zoned commercial and as such are valued at a much lower rate than properties zoned as residential. Therefore, by default these properties would be paying less; however, for the purposes of the SID formula they are assessed at 100% of the going rate. For more on this issue see assessment policy.

The Feasibility Steering Committee recommendations as of Jan. 4, 2010
SID creation: YES, absolutely; essential tool to better community.
Boundaries: All of Main Street, Ocean Avenue, Beach Front Commercial, Marine Commercial ; known on zoning map dated Dec. 29, 2004 as — Central Business District (CBD 1 & 2), Beach Front Commercial (B-C), Marine Commercial (MC 1 & 2), Professional Office Zone (PO 75) and Seaport Redevelopment Zone (SRD).
Budget priority percentages as follows: Visual – 52 %; PR/Mktg – 11%; Business Recruit/Retention – 11%; Admin – 26%.
Goals: Physical commercial transformation; business retention and attraction.

Assessment Policies: All commercial properties (as zoned 4A on the zoning map) within the boundaries of the SID as stated above shall be assessed at equal rates, being 100% of established SID rate.
All residential properties for commercial purposes ( i.e. B &B’s or others with a licesne to operate from the state) shall be assessed at 50% of the SID rate. Since residential properties are valued at a much higher market rate than commercial properties, any property that falls into the category of residential for commercial purposes shall be assessed at 50% of the SID rate (i.e. having a license from the state to operate).

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