40:56-83 District management corporation; powers.
17. a. In addition to the powers otherwise conferred pursuant to this amendatory and supplementary act, a district management corporation may exercise those of the powers listed herein as may be conferred upon it by ordinance. A district management corporation incorporated pursuant to Title 15A of the New Jersey Statutes shall exercise its powers in a manner consistent with that title.
b.The district management corporation shall have all powers necessary and requisite to effectuate its purposes, including, but not limited to, the power to:
(1)Adopt bylaws for the regulation of its affairs and the conduct of its business and to prescribe rules, regulations, and policies in connection with the performance of its functions and duties;
(2)Employ such persons as may be required, and fix and pay their compensation from funds available to the corporation;
(3)Apply for, accept, administer and comply with the requirements respecting an appropriation of funds or a gift, grant or donation of property or money;
(4)Make and execute agreements which may be necessary or convenient to the exercise of the powers and functions of the corporation, including contracts with any person, firm, corporation, governmental agency or other entity;
(5)Administer and manage its own funds and accounts and pay its own obligations;
(6)Borrow money from private lenders and from governmental entities;
(7)Fund the improvement of the exterior appearance of properties in the district through grants or loans;
(8)Fund the rehabilitation of properties in the district;
(9)Accept, purchase, rehabilitate, sell, lease or manage property in the district;
(10) Enforce the conditions of any loan, grant, sale or lease made by the corporation;
(11) Provide security, sanitation and other services to the district, supplemental to those provided normally by the municipality;
(12) Undertake improvements designed to increase the safety or attractiveness of the district to businesses which may wish to locate there or to visitors to the district, including, but not limited to, litter cleanup and control, landscaping, parking areas and facilities, recreational and rest areas and facilities, and those improvements generally permitted for pedestrian malls under section 2 of P.L.1972, c.134 (C.40:56-66), pursuant to pertinent regulations of the governing body;
(13) Publicize the district and the businesses included within the district boundaries;
(14) Recruit new businesses to fill vacancies in, and to balance the business mix of, the district;
(15) Organize special events in the district;
(16) Provide special parking arrangements for the district;
(17) Provide temporary decorative lighting in the district.
L.1984,c.151,s.17; amended 2004, c.180.
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Last modified: October 11, 2016