Sounds like you have a lot of reading to do. I suggest picking up a few books about saltwater and reef keeping, The Concientious Marine Aquarist by Bob Fenner being one of them. There are tons of articles online as well.
www.reefcentral.com might be a good place to start.
Before you know what kinds of equipement you need, you need to know what you want to keep. A reef tank by definition houses coral...is your goal to keep some species of corals? If so, what kinds? SPS (small polyp stony corals) need high lighting and lots of flow. LPS (large polyp stony corals) need less light, but most still need a decent amount of it. Soft corals generally do not need high amounts of flow and most can live in relatively low-medium lighting conditions (depening on the species of course). However, any tank with corals, except nonphotosynthetic corals such as sun corals and some gorgonia, will need a decent lighting fixture to thrive.
As for filtration, your best option is lots of liverock. Around 20-30 pounds for this size tank would be a good number. You may or may not want a small protein skimmer (I'd opt for getting one, but if you do religious water changes it won't be as necessary).
You will want another spectrum bulb (one with more of a white hue) to go along with that actinic (a blue bulb). How many watts is the actinic? You may need to ditch the hood altogether and go with another fixture if the hood (really, the ballast in the hood) can not handle as many watts as desired.
You can also scrap the coral idea altogether and go with a FOWLR (fish only with liverock) tank. This would mean you'd have the liverock of a reef tank, minus the corals. Instead, more of a focus on fish and inverts like shrimp. However, in this size tank, you have only a few choices on fish, and you won't be able to house many of them.
My best advice, however, is that you do not start saltwater with a 16 gallon tank. Saltwater can be hard at first, especially reefs, because it is crucial that the water parameters stay at perfect levels. This is much harder to maintain in a smaller tank, and therefore things will be more stable in a big tank. If you really want to take the plunge into saltwater, I suggest starting with a tank no less tha 30 gallons.