Downtown Freehold SID budget approved after public questions about barter accounting and municipal support

The Freehold Borough Council unanimously adopted the Downtown Freehold Special Improvement District (SID) budget for fiscal year 2026–27 at its June 15 meeting, advancing a $615,000 spending plan the SID uses for marketing, events, maintenance and streetscape improvements.

Jean Holtz, a SID trustee and former president, presented the budget and told the council that the SID generates the majority of its revenue from property assessments and that sponsorships and event income now account for roughly 30% of SID revenues. "Downtown Freehold is committed to working and collaborating with members, local businesses, organizations and public partners to support a vibrant downtown," Holtz said.

The public hearing drew multiple questions from residents and downtown property owners. George Schner, who identified himself as living at 307 Park Avenue and a longtime member of borough finance committees, emphasized that residential taxpayers do not directly fund SID events and programs and said the SID maintains a shared-services arrangement with the borough. "Residential taxpayers again don't pay for any of the SID district's events, programs, or employees," Schner said.

Ricky Garz pressed the SID and trustees on an accounting line the published packet labeled "barter transactions," asking why the item was listed as barter when it appeared to involve cash receipts and disbursements. A SID representative and trustees acknowledged the line requires clarification; the trustees said they would review the online materials and correct any typographical or presentation errors. "I think perhaps that might be a typo and we'll have to have that fixed," a trustee said.

Several commenters also asked whether the borough reimburses overtime for police and department-of-public-works staff who support downtown events. A SID trustee and other speakers said the municipality provides public-safety and streets services under a shared-services arrangement and that the borough records a $37,000 deduction to cover certain services; they also said some event logistics remain the responsibility of the borough. The SID’s executive director, referenced in testimony as Jeff Friedman, and trustees said they would provide clearer budget notes about the treatment of those shared-service costs.

Council members took the formal vote after confirming that trustees were present and heard public comment. The council then approved both the SID budget and a companion resolution confirming the SID assessment roll by roll-call vote. Mayor Kevin Kaine signed the adoption on the record.

What happens next: the SID will finalize its published materials to correct the barter presentation and to provide clearer line-item notes about municipal support; the council recorded the formal adoption and will revisit any requested clarifications in follow-up communications.