Washington Business Improvement District Management Corporation

“Article III of the bylaws of incorporation states criteria for membership including rights of members and non transfer of membership interests. Article IV of the bylaws of incorporation states the number of members eligible for the board of directors; terms of office; composition of the board; election of directors and removal of directors.”

“Article IV, section 4.04 details procedures for election of directors. With some exceptions, Directors shall be elected by plurality vote of members.”

“Washington Borough, Warren County NJ created the Washington Business Improvement District by ordinance on 5/6/2003. Included in the ordinace: 1) The Borough of Washington may delegate to the District Management Corporation the contracting of work to be done on any street, or on other municipal property, included in the Special Improvement District. 2) The District Management Corporation must submit a detailed business plan and budget to the Borough for approval no later than November 1 of the current year. 3) The District Management Corporation must submit an annual report to the Washington Borough governing body 60 days after the close of the fiscal year. 4) The Borough of Washington expressly retains all its power and authority over the area designated as the Washington Borough Special Improvement District.”

“The governing body does not specifically review the form 990. However, a full review of the annual report is performed by the executive committee with the independent public accountant.”

“The process for determining compensation for the executive director and executive assistant (key employee) is determined by the personnel committee of the board based on a review of similar agencies and availability of resources.”

“all information of the district is available to the general public and dother interested parties upon request.”

“all information of the district is available to the general public and other interested parties upon request.”