[HISTORY: Adopted by the City Council of the City of Vineland 6-27-2006 by Ord. No. 2006-53 (Ch. 24 of the 1990 Code). Amendments noted where applicable.]
Editor's Note: The preamble of this ordinance states: "In order to assist in the revitalization of the redevelopment area of the City of Vineland, encourage private investment, assist in economic development within the Urban Enterprise Zone and manage Urban Enterprise Zone Funding, it is necessary to create a corporation pursuant to N.J.S.A. 15A:1-1 et seq."
The City of Vineland is hereby authorized to act as incorporator to create a nonprofit corporation to be known as the "Vineland Development Corporation."
The Mayor, President of City Council and the Business Administrator are hereby authorized to execute any and all documents necessary to create said Corporation consistent herewith.
The Board of Directors of the Vineland Development Corporation shall consist of and operate pursuant to the following conditions:
The Board of Directors shall consist of nine members;
[Amended 10-27-2009 by Ord. No. 2009-68; 2-14-2017 by Ord. No. 2017-8; 4-10-2018 by Ord. No. 2018-22]
The Board of Directors shall consist of:
[Amended 9-9-2008 by Ord. No. 2008-61; 2-24-2009 by Ord. No. 2009-13; 2-14-2017 by Ord. No. 2017-8; 4-10-2018 by Ord. No. 2018-22]
The five Vineland members of the Enterprise Zone Development Corporation of Vineland and Millville, appointed in accordance with the bylaws of said corporation;
Two residents of the City of Vineland, appointed by the Mayor of the City of Vineland with the advice and consent of the City Council of the City of Vineland;
Two business owners or professionals maintaining a principal office in the Vineland Urban Enterprise Zone, appointed by the Mayor of the City of Vineland with the advice and consent of the City Council of the City of Vineland.
Five members of the Board shall constitute a quorum;
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;
Extraordinary business conducted by the Corporation, including but not limited to amendment to the certificate of incorporation, approval or modification of the bylaws, proposals for projects to be undertaken by the Corporation and the hiring or firing of professional, technical and consultative personnel, shall require the affirmative vote of 2/3 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 operations of the Corporation. The Board shall develop qualifications for the Executive Director and may thereafter hire a person who meets said qualification for a term specified by the Board. In lieu thereof, the Director of Economic Development of the City of Vineland or his assignee shall serve as Executive Director. The Board may hire such other persons, including professionals, as may be necessary for the efficient operation of the Corporation.
The registered office of the Corporation shall be City Hall, 640 East Wood Street, Vineland, New Jersey 08360, and the registered agent shall be the City Clerk of the City of Vineland.
The duration of the Corporation shall be indefinite unless the Corporation is terminated by the adoption of an ordinance of the City Council of the City of Vineland.