RED BANK, NJ: Laura Kirkpatrick, Executive Director of the Red Bank RiverCenter presented the 2020 budget at July 22 online council meeting.

The non-profit RiverCenter manages Red Bank’s Special Improvement District (SID) formed in 1991.  The SID includes the downtown shopping and business areas of town and was expanded in 2007 to include parts of the west side of town.  This area extends approximately west of Bridge Ave to Globe Court, and from the Navesink River to just past the Post Office.

Taxes from individual residents are not used for any funding of the RiverCenter.

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Funding is paid through an assessment by property owners in the SID.  Funds are also raised through special events like the International Beer, Wine & Food Fest and the Guinness Oyster Festival and grants.  The 9th annual International Festival is expected be rescheduled; a new date has not been set.

The pandemic has obviously placed a major crimp in this year’s budget.

The 2020 assessment was $564,970 and increase of $26,850 from 2019 due to debt from the English Plaza and White Street Projects.

“RiverCenter is working to assist the businesses in ways we couldn't have imagined 4 months ago.  As the borough, our businesses, and Red Bank's residents are adapting, RiverCenter is, too.  From curbside pickup to outdoor dining, our organization is working to keep Red Bank vibrant and safe,” said Executive Director Laura Kirkpatrick.

To review the RiverCenter PowerPoint presentation that details the overall budget, additional funds raised, specific programs and their 2-year strategic plan, click HEREpdf.

“Our overall assessment request continues to be $60,000 below the 2008 assessment and was lowered in 2009 in response to the 2008 financial crisis," added Kirkpatrick. 

RiverCenter will seek additional funds though events, grants, and partnerships,” added Kirkpatrick.

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