[HISTORY: Adopted by the City Council of the City of Passaic 3-24-1994 as Ord. No. 1276-94. Amendments noted where applicable.]
Editor's Note: This ordinance also repealed former Ch. 17, Enterprise Zone Development Corporation, adopted 3-21-1985 as Ord. No. 839-85.
Pursuant to N.J.S.A. 52:27H-67, there shall be created a nonprofit corporation, to be incorporated under Title 15A of the New Jersey Statutes, which shall function as the zone development corporation and shall have the Director of Community Development as its incorporator.
The certificate of incorporation shall provide that the duration of the corporation shall be for a period of 21 years following the date of incorporation, consistent with N.J.S.A. 52:27H-66, which provides that any designation of an enterprise zone shall be for a period of 20 years and shall not be renewed at the end of that period. Should Title 52 be amended allowing for the existence of designated enterprise zones for a period in excess of 20 years, the certificate of incorporation shall be amended to extend the duration of the corporation for the period of time so designated by state statute.
The corporation to be created hereunder shall use as its corporate name, "Passaic Enterprise Zone Development Corporation."
The corporation shall consist of a Board of Trustees, who shall also be members of the corporation; and general members. Members, except as otherwise provided for by this chapter, shall be appointed by the Mayor, upon advice and consent of the City Council.
The management and conduct of the affairs of the corporation shall be directed by a board of 15 Trustees. The four standing members shall consist of the Mayor, the Business Administrator, the President of the City Council and the Director of Community Development, who shall serve as Chairperson of the Board.
In addition to the persons named in Subsection A of this section, the Board of Trustees shall also include 11 other members, who shall be appointed by the Mayor upon advice and consent of the City Council. These members shall represent the business and industrial community and representatives of local community organizations, such that the total membership of the Board of Directors shall be broadly representative of businesses and communities within the City of Passaic.
The general membership of the corporation shall consist of representatives of the business and industrial community within the City of Passaic, representatives of community organizations within the City of Passaic, and residents of the City of Passaic, such that general membership within the corporation shall be broadly representative of businesses and members of the community within the City of Passaic.
General members of the corporation shall be elected to membership by a majority vote of the Board of Trustees.
The Board of Trustees shall elect from its members, on an annual basis, a Vice Chairperson, a Secretary and a Treasurer, in accordance with its certificate of incorporation or bylaws.
The corporation shall be charged with implementing the zone development plan approved by the City Council, submitted in support of the city's application for designation of the enterprise zone within the City of Passaic. Upon designation of an enterprise zone, the corporation shall implement the accepted proposals regarding:
Utilizing municipal powers for the purpose of stimulating investment in and economic development of the enterprise zone;
Utilizing state assistance through the provisions of the Urban Enterprise Zone Act, N.J.S.A. 52:27H-60 et seq., relating to exemptions from and credits against state taxes;
Securing the involvement in, and commitment to, zone economic development by private entities, including zone neighborhood associations, voluntary community organizations supported by residents and businesses in the enterprise zone;
Utilizing the powers conferred by law to revise municipal planning and zoning ordinances and other land use regulations as they pertain to the enterprise zone, in order to enhance the attraction of the enterprise zone to prospective developers; and
Increasing the availability and efficiency of support services, public and private, generally used by and necessary to the efficient functioning of commercial and industrial facilities in the area and providing and financing, to whatever extent necessary, an increase or improvement of such services.
The initial Board of Trustees of the corporation, other than the standing members, shall hereby be appointed, as a whole, by the Mayor upon advice and consent of the City Council, with their names and addresses provided in the corporation's certificate of incorporation or bylaws, according to law.