Business & Tech
RiverCenter Unveils its 2012 Budget
The budget for the downtown's marketing arm remains flat for the third straight year.
Red Bank RiverCenter, the marketing arm of the borough's downtown businesses, unveiled its 2012 budget night and for the third straight year it's managed to keep it flat.
The $512,120 budget, a figure arrived at based on an assessment of property values in the borough's Special Improvement District, covers everything from pictures with Santa Claus to bench repairs on Broad Street.
Among the line items included in the budget are more than $99,000 being put towards marketing and recruitment, $89,000 allocated for capital improvements, and another $34,1000 for events. The lion's share of the budget, $253,153, is put towards administrative costs and overhead. The figure not only includes RiverCenter employee salaries, Executive Director Nancy Adams said, but a number of other expenditures too, like event insurance and fundraising.
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Annually, Adams said the RiverCenter spends about $750,000.
"The reality is that's what it takes in order to produce the amazing amount of work that the RiverCenter produces, from planning events, to developing relationships to being at the beck and call of business owners and the borough," she said.
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RiverCenter and Adams have taken a few shots this year. Mayor Pat Menna for not doing its fair share in helping to keep downtown Red Bank clean and some borough restaurant owners banded together to create , an independent marketing effort, in part because they were dissatisfied with RiverCenter's direction.
Recently, however, RiverCenter and Flavour appear to have aligned forces as RiverCenter has become an active sponsor and organizer of Flavour events, like the upcoming food and music combo event Broadway in Red Bank and May's International Flavour Festival, a food extravaganza featuring 25 of Red Bank's favorite restaurants.
Menna said the development of multiple marketing efforts is a good thing for the community. He also pressed RiverCenter to make sure it spends its budget as wisely as it can.
"This, as you know, is your money and your ability to spent it," he said. "Take a look at your budget and see what creative things you can do."
A public hearing on the budget will be held at Red Bank's May 9 council meeting.
A full break down of RiverCenter's budget:
Admin and Overhead $253,153 Events: Sidewalk Sale $4,000 Holiday Event Advertising $8,000 Town Lighting $10,000 Horse and Wagon $7,000 Pictures with Santa $100 Holiday Harmonies $4,000 Gingerbread Walk $1,000 Events Subtotal $34,100 Marketing and Recruitment: Markerting/Advertising $44,222 ICSC; Business Recruitment $4,950 Visitors Center $50,000 Recruitment and Marketing Subtotal $99,172 Capital Improvements: Horticulture Project $15,000 Sidewalk Maintenance $17,000 Benches $5,000 Holiday Decorations $52,000 Capital Projects Subtotal $89,000 Outreach and Communications: Annual Meeting $1,500 Community Outreach $3,000 Outreach and Communications Subtotal $4,500 Monmouth St. Streetscape Debt Service $32,195 Total $512,120Get more local news delivered straight to your inbox. Sign up for free Patch newsletters and alerts.
