The Lakewood Development Corporation today increased their salaries.
New Jersey's Urban Enterprise (UEZ) Program offers participating businesses incentives that encourage business growth and stimulate local economies, including a 50% reduced sales tax, tax free purchases on certain items, facility expansions, and upgrades, and financial assistance.
This assistance aims to foster an economic climate that revitalizes designated urban communities and stimulate their growth by encouraging businesses to create private sector jobs.
A portion of Lakewood Township is included in a zone in the UEZ program.
The LDC is the arm of the Township which administers Lakewood's Urban Enterprise Zone program. The LDC uses the annual UEZ grant money to offer business loans and grants to certified UEZ businesses as well as numerous other business encouragement incentives such as business-to-business networking events.
The LDC's Board of Trustees today adopted their annual budget which, according to their resolution, "finances the personnel and administration expenses associated with projects and activities that will lead to increased economic activity or encourage private investment and job creation."
This budget, which will be funded by the UEZ funds that the Township receives from the state, is a whopping $723,236.
This budget includes salaries of $164,800 to Executive Director David Klein, $85,543.56 to Joann Wilkes, $61,800.00 to Business Development Officer Moshe Bender and $29,344.70 to Anita Doyle (who receives an additional salary from the Lakewood Industrial Commission). The budget also provides benefits (i.e. health insurance) for David Klein in the amount of $76,184.32, for Joann Wilkes in the amount of $36,633.71, for Moshe Bender in the amount of $64,081.65, and for Anita Doyle in the amount of $3,448.06. (Attorney Sean Kean receives $20,000 as his slice of the pie, an additional $25,000 covers the audit).
David Klein also receives a $2,000 car allowance.
Moshe Bender was hired on May 6, 2024.
Last year's budget was originally $462,500.
The original budget included salaries of $124,852 to Executive Director David Klein, $78,052 to Joann Wilkes, and $25,990 to Anita Doyle as well as benefits (i.e. health insurance) for these employees for a total of $113,000. Attorney Sean Kean was to receive $10,000 as his slice of the pie, an additional $22,000 covers the audit).
Then... less than two months later, the Lakewood Development Corporation (LDC) Board of Trustees decided that due to all the great work they'd been doing over all that time, it was time to give their staff some pretty decent salary increases!
David Klein's salary was increased to $160,000, Joann Wilkes's salary was increased to $83,052, and Anita Doyle's salary was increased to $28,490.
Accordingly, the previously approved budget amount of $462,500 was increased to $507,500.
The LDC did not explain why this year's budget climbed from $507,500 to $723,236.
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1 comment:
To Executive Director David Klein if you have a job opening in your department please reach out to me.To make a salary of $164,800 is great.I don't know what your responsibilities are but really not intrested in that.Just would like a possible 1/2 what you make that would be great and I will not disappoint.Thank you
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