Pursuant to the provisions of N.J.S.A. 40:55B-1 et seq., a local community
development corporation, to be known as the "Community Development Corporation
of the Township of Middle," a New Jersey not-for-profit corporation, is hereby
created to consist of seven members, which said Corporation shall be a body
corporate, having the powers hereinafter enumerated.
To effectuate its purposes, the Community Development Corporation shall
have the following powers:
B. To adopt and use an official seal.
C. To adopt suitable bylaws for the management of its affairs.
D. To determine the qualifications and duties of its employees,
and to fix, subject to the foregoing provisions hereof, their compensation.
The Community Development Corporation shall constitute the corporate
instrumentality of the Township of Middle for the following purposes:
A. To inquire into, survey and publicize the extent, advantages
and utility of the vacant lands of the Township of Middle, whether municipally
owned or otherwise.
B. To classify such vacant lands according to their adaptability
for the settlement thereon of various types of Corporation enterprises.
C. To advertise the economic advantages and opportunities
of the Township of Middle and the availability of real estate within the Township
of Middle for economic development, and to encourage and accomplish such development
within the Township of Middle.
D. To solicit economic enterprises to purchase or lease
the vacant lands and property of or in the Township of Middle.
E. To accomplish the sale or lease of the Township of Middle's
vacant lands to economic enterprises whose settlement thereon is best calculated,
in the judgment of the Corporation, to advance the interests of the Township
of Middle and of its citizens and inhabitants.
F. To acquire title to vacant land owned by the Township
of Middle for the purpose of resale or lease to economic enterprises whose
presence within the Township of Middle will benefit in the judgment of the
Corporation, its citizens and inhabitants.
G. To create a revolving loan program to encourage economic
enterprises in Middle Township.
The Community Development Corporation shall make a study of the tax
structure reducing the tax burden on the Township of Middle.