Borough Council adopts budget for Downtown Freehold

FREEHOLD – A $377,250 budget to support Downtown Freehold’s operation for 2019-20 has been adopted by the Borough Council in Freehold Borough.

Downtown Freehold, a nonprofit organization, is the management corporation of Freehold Borough’s Special Improvement District (SID). The organization produces annual events in the community.

Earlier this year, the $377,250 budget was submitted to the council by representatives of Downtown Freehold. Council members introduced the budget upon its receipt and adopted the spending plan on June 3.

According to a resolution, the budget will fund the SID from July 1, 2019 through June 30, 2020. The budget will be supported by the collection of $255,000 in taxes from property owners and business operators in the SID.

In addition to the $255,000 tax levy, potential sponsorship income of $148,750 and event income of $18,500 will provide the revenue for the organization’s budget.

Expenses are proposed as follows: $185,100 in member services, $98,050 in events, $87,100 in improvements and $7,000 in donations to local events.

Council President Kevin Kane, Councilwoman Sharon Shutzer, Councilman George Schnurr, Councilwoman Annette Jordan and Councilwoman Margaret Rogers voted to adopt Downtown Freehold’s 2019-20 budget.

Councilman Michael DiBenedetto, who owns Joe’s Barber Shop in the SID, abstained from voting.

Mayor Nolan Higgins, who owns Higgins Memorial Home in the SID, recused himself from the issue.

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