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1287
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MARVIN MANDEL, Governor
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4. ESTABLISHMENT OF URBAN RENEWAL AGENCY
(A) A MUNICIPALITY MAY ITSELF EXERCISE ALL THE
POWERS GRANTED BY THIS SUBHEADING, OR MAY, IF ITS
LEGISLATIVE BODY BY ORDINANCE DETERMINES THE ACTION TO BE
IN THE PUBLIC INTEREST, ELECT TO HAVE THE POWERS
EXERCISED BY A SEPARATE PUBLIC BODY OR AGENCY.
(B) IN THE EVENT THE LEGISLATIVE BODY MAKES THAT
DETERMINATION, IT SHALL PROCEED BY ORDINANCE TO ESTABLISH
A PUBLIC BODY OR AGENCY TO UNDERTAKE IN THE MUNICIPALITY
THE ACTIVITIES AUTHORIZED BY THIS SUBHEADING.
(C) THE ORDINANCE SHALL INCLUDE PROVISIONS
ESTABLISHING THE NUMBER OF MEMBERS OF THE PUBLIC BODY OR
AGENCY, THE MANNER OF THEIR APPOINTMENT AND REMOVAL, AND
THE TERMS OF THE MEMBERS AND THEIR COMPENSATION.
(D) THE ORDINANCE MAY INCLUDE WHATEVER ADDITIONAL
PROVISIONS RELATING TO THE ORGANIZATION OF THE PUBLIC
BODY OR AGENCY AS MAY BE NECESSARY.
(E) IN THE EVENT THE LEGISLATIVE BODY ENACTS THIS
ORDINANCE, ALL OF THE POWERS BY THIS SUBHEADING GRANTED
TO THE MUNICIPALITY, FROM THE EFFECTIVE DATE OF THE
ORDINANCE, ARE VESTED IN THE PUBLIC BODY OR AGENCY
ESTABLISHED BY THE ORDINANCE.
5. POWERS WITHHELD FROM THE AGENCY
THE AGENCY MAY NOT:
(1) PASS A RESOLUTION TO INITIATE AN URBAN
RENEWAL PROJECT PURSUANT TO SECTIONS 2 AND 3 OF THIS
SUBHEADING.
(2) ISSUE GENERAL OBLIGATION BONDS PURSUANT
TO SECTION 9 OF THIS SUBHEADING.
(3) THE POWER TO APPROPRIATE FUNDS, AND TO
LEVY TAXES AND ASSESSMENTS PURSUANT TO SECTION 3 (3) OF
THIS SUBHEADING.
6. INITIATION OF PROJECT
IN ORDER TO INITIATE AN URBAN RENEWAL PROJECT, THE
LEGISLATIVE BODY OF THE MUNICIPALITY SHALL ADOPT A
RESOLUTION WHICH:
(1) FINDS THAT ONE OR MORE SLUM OR BLIGHTED
AREAS EXIST IN THE MUNICIPALITY;
(2) LOCATES AND DEFINES THE SLUM OR BLIGHTED
AREA;
(3) FINDS THAT THE REHABILITATION,
REDEVELOPMENT, OR A COMBINATION OF THEM, OF THE AREA OR
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