[Ord. No. O.1626-2008§ 1]
Pursuant to the Local Redevelopment and Housing Law, N.J.S.A. 40A:12A-1, et seq., (the "Redevelopment Law") and the Local Authorities Fiscal Control Law, N.J.S.A. 40A:5A-1, et seq., (the "Authorities Fiscal Control Law"), the Township hereby creates a body corporate and politic to be known as the "Township of Edison Redevelopment Agency" (the "Agency") which shall constitute a redevelopment agency contemplated and provided for in the Redevelopment Law, as an agency and instrumentality of the Township.
[Ord. No. O.1626-2008§ 1]
a. 
Pursuant to the Redevelopment Law, there shall be seven (7) commissioners of the Agency to be appointed by the Mayor with the advice and consent of the Township Council. Commissioners shall each serve for a term of five (5) years; except that the first of these appointees shall be designated to serve for the following terms:
One (1) for a term of one (1) year;
One (1) for a term of two (2) years;
Two (2) for terms of three (3) years;
One (1) for a term of four (4) years; and
Two (2) for terms of five (5) years.
No more than two (2) commissioners shall be officers or employees of the Township. Each commissioner shall hold office for the term of his or her appointment and until his or her successor shall have been appointed and qualified. Any vacancy occurring in the office of a commissioner, from any cause, shall be filled in the same manner as the original appointment, but for the unexpired term. One (1) of the commissioners shall be a member of the Township Council. A commissioner who is a member of the Township Council shall serve for a term of one (1) year. Commissioners shall serve for the terms of office provided herein and as required under the Redevelopment Law, specifically, N.J.S.A. 40A:12A-11.
b. 
A certificate of the appointment or reappointment of each commissioner shall be filed with the Clerk of the Township, and that certificate shall be conclusive evidence of the due and proper appointment of that commissioner.
c. 
A commissioner shall receive no compensation for his or her services, but shall be entitled to reimbursement for actual expenses necessarily incurred in the discharge of his or her duties of commissioner, including travel expenses, solely out of the budget for the Agency but only to the extent funds are available for such costs.
d. 
The powers of the Agency shall be vested in the commissioners thereof in office from time to time.
e. 
Four (4) commissioners shall constitute a quorum for the purpose of conducting business and exercising powers and all other purposes. Action may be taken by the Agency upon the affirmative vote of the majority, but not less than four (4) of the commissioners present, unless in any case the bylaws of the Agency shall require a larger number.
f. 
The Agency shall select a chairman and a vice-chairman from among the commissioners, and it shall employ an executive director, who shall serve as its secretary.
[Ord. No. O.1626-2008§ 1]
a. 
No commissioner or employee of the Agency shall acquire any interest, direct or indirect, in a redevelopment project or in any property included or planned to be included in a redevelopment project, nor shall be or she have any interest, direct or indirect, in any contract or proposed contract for materials and services to be furnished or used in connection with a redevelopment project. If any commissioner or employee of the Agency owns or controls an interest in, direct or indirect, any property included or planned to be included in a redevelopment project, he or she shall immediately disclose the same in writing to the Agency and the disclosure shall be entered upon the minutes of the Agency.
b. 
Failure to disclose such an interest shall constitute misconduct in office. A commissioner or employee required by this section to make a disclosure shall not participate in any action by the Agency affecting the property with respect to which disclosure is required.
c. 
For inefficiency or neglect of duty or misconduct in office, a commissioner may be removed by the. Township; but a commissioner may be removed only after he has been given a copy of the charges at least ten (10) days prior to the hearing thereon and has had the opportunity to be heard in person or by counsel. In the event of a removal of a commissioner, a record of the proceedings, together with the charges and findings thereon, shall be filed in the office of the Clerk of the Township. The executive director of the Agency shall have attained a degree from an accredited four (4) year college or university, and shall have at least five (5) years' experience in public administration, public finance, realty or similar professional employment. A master's degree in an appropriate program may substitute for two (2) years of that experience.
d. 
The executive director shall serve at the pleasure of the commissioners of the Agency, any may be relieved of his or her duties only after one hundred twenty (120) days' notice. The executive director shall be the appointing authority for all or any portion of the employees of the Agency. The executive director shall assign and supervise employees in the performance of their duties.
[Ord. No. O.1626-2008§ 1]
a. 
The Agency is authorized to exercise all those public and essential governmental functions necessary or convenient to effectuate the purposes of the Redevelopment Law, which shall include, but not be limited to those powers described in Section 22 of the Redevelopment Law. Notwithstanding the foregoing, the Agency shall not issue bonds or notes that are secured by the full faith and credit of the Township without the approval of the Township Council.
b. 
The Agency shall be authorized to undertake the actions authorized under Section 8 of the Redevelopment Law in order to effectuate the purposes of the Redevelopment Law and the terms of the applicable redevelopment plan.
c. 
To the extent the Agency is designated a redevelopment entity in accordance with Section 4 of the Redevelopment Law, the Agency, upon the adoption of a redevelopment plan for a redevelopment project, may proceed with the clearance, replanning, development and redevelopment of the area designated in that redevelopment plan; provided, however, that the Agency is prohibited from exercising the power of eminent domain to acquire property from a private landowner without acquiring the private landowner's consent when the purpose or result of such acquisition is to sell, transfer, lease, or in any way convey such property in whole, or in part, to any private entity or party.