[Added 2-1-2022 by Ord. No. 11-2022]
The Millville Development Corporation is created.
The City of Millville is hereby authorized to act as an incorporator to create a nonprofit corporation to be known as the "Millville UEZ Zone Development Corporation," and the Vice Mayor (Director of Revenue and Finance) and the Clerk of the City are hereby authorized to execute a certificate of incorporation containing provisions authorized by and consistent with this article.
The purpose to be included in the certificate of incorporation pursuant to N.J.S.A. 15A:1-1 et seq. shall be to encourage private investment within the Urban Enterprise Zone located within the City of Millville.
The Board of Directors of the Millville UEZ Zone Development Corporation shall consist of and operate pursuant to the following conditions:
A. 
The Board of Directors shall consist of 11 members.
B. 
Selection of the Board members shall be made by the Mayor of the City with the advice and consent of the Board of Commissioners. Members of the Board of Directors shall be selected from the following areas: two Commissioners from the governing body; three members from the City's administrative staff; five members from the business and community organizations within the City; and one at-large member from the residents of the City.
C. 
Seven members of the Board shall constitute a quorum.
D. 
All ordinary business conducted by the Corporation shall be approved by a simple majority of those Board members who are present at any regular or special meeting of the Board of Directors.
E. 
Extraordinary business conducted by the Corporation such as an amendment to the certificate of incorporation, approval or modification of the bylaws, proposals for projects to be undertaken by the Corporation, and the hiring and firing of professional, technical and consultant personnel shall require the affirmative vote of two-thirds of the entire Board of Directors.
The Board of Directors of the Corporation shall develop bylaws and may hire an Executive Director to supervise the day-to-day activities of the Corporation. The Board shall develop qualifications for the Executive Director and shall thereafter hire a person who meets said qualifications for the Executive Director and shall thereafter hire a person who meets said qualifications for a term specified by the Board. The Board may also hire such other persons, including professional persons, as may be necessary for the efficient operation of the Corporation.
The registered office of the Corporation shall be 12 South High Street, Post Office Box 609, Millville, New Jersey 08332, and the registered agent shall be the City Clerk of the City of Millville.
The duration of the Corporation shall be indefinite unless the Corporation is terminated by the adoption of an ordinance of the governing body of the City of Millville.
Upon termination of the Corporation, the Corporation's assets shall be distributed to the City of Millville as required by the New Jersey Nonprofit Corporation Act[1] and consistent with the Internal Revenue Code.
[1]
Editor's Note: See N.J.S.A. 15A:1-1 et seq.
The certificate of incorporation shall include the address of the Corporation's initial registered office and the name of the Corporation's initial registered agent. Thereafter, the Board of Directors is authorized to change the Corporation's registered office and the Corporation's registered agent consistent with the provisions of the New Jersey Nonprofit Corporation Act.
The certificate of incorporation shall also contain the names and addresses of the first Board of Directors of the Corporation and such additional information as may be required by the New Jersey Nonprofit Corporation Act.