Title 55, Title 55: TENEMENT HOUSES AND PUBLIC HOUSING

55:19-102. Establishment of fair market value of property 25. With respect to any eminent domain proceeding carried out under section 37 of P.L.1996, c.62 (C.55:19-56), the fair market value of the property shall be established on the basis of an analysis which determines indepen…

55:19-103. Removal from abandoned property list; conditions 29. If a property, which an entity other than the municipality has purchased or taken assignment from the municipality of a tax sale certificate, is placed on the abandoned property list, the property shall be removed fr…

55:19-104. Creation of abandoned property list; initiative procedure 30. The voters of any municipality which has not adopted an ordinance directing the public officer to create an abandoned property list pursuant to section 36 of P.L.1996, c.62 (C.55:19-55) within one year after…

55:19-105. Request for inclusion of property on abandoned property list 31. a. Any interested party may submit in writing a request to the public officer that a property be included on the abandoned property list prepared pursuant to section 36 of P.L.1996, c.62 (C.55:19-55), spe…

55:19-106 Findings, declarations relative to discontinuation of certain utility service from abandoned properties. 1. The Legislature finds and declares that: a. Abandoned properties raise significant concerns for communities where they are located, including fostering criminal a…

55:19-107 Access to abandoned property by utility, conditions. 3. A utility may take all necessary steps to enter the premises of, discontinue utility service to, and remove utility equipment from, any property listed on an abandoned property list established pursuant to section …

55:19-11. Self-dealing prohibition a. No director, officer, agent or employee of the corporation or of any of the corporation's subsidiaries shall take any official action on any matter in which he has a direct or indirect financial interest, except that the ownership of, or tena…

55:19-12. Authorized investment Any public or private agency, organization, corporation, or association which is not legally barred from investing in the bonds or stock of the New Jersey Housing and Mortgage Finance Agency or any of its subsidiary corporations may lawfully invest…

55:19-13. Employment tax credit Any person, firm or corporation actively engaged in the conduct of business at a location within a project, as defined in this act, which is subject to the provisions of the "Corporation Business Tax Act (1945)," P.L. 1945, c. 162 (C.54:10A-1 et se…

55:19-14. No eminent domain; municipal regulation a. Neither the corporation nor any of its subsidiaries is authorized to acquire property by right of eminent domain. b. Neither the corporation nor any of its subsidiaries shall undertake, or provide financial or other assistance …

55:19-15. Prevailing wage rate Any builder, contractor or subcontractor engaged upon a project within the meaning of this act, and any person, firm or corporation managing or operating such a project, including the corporation and its subsidiaries, shall pay the workmen employed …

55:19-16. Annual report; strategy document a. On or before the last day of March in each year, the board of directors of the corporation shall make an annual report of its activities for the preceding calendar year to the Governor and the Legislature. The report shall set forth a…

55:19-17. Urban Development Investment Fund created 16. a. There is hereby created the Urban Development Investment Fund, into which shall be paid: (1) Funds appropriated by section 17 of this act; (2) Repayments of loans or other payments received by the corporation pursuant to …

55:19-18. Appropriation from bond fund a. There is appropriated to the Urban Development Investment Fund from the Community Development Bond Fund created by the "Community Development Bond Act of 1982" (P.L. 1981, c. 486) the sum of $30,000,000.00 for the purposes of this act, in…

55:19-19. Project initiation within one year The first projects under this act shall be initiated not later than one year from the date on which, following the appointment of its citizen members pursuant to the provisions of section 4 of this act, the board of directors shall org…

55:19-2. Findings, declarations The Legislature finds and declares: a. For several years past economic decline has persisted in the urban centers of the State, despite programs created by both State and federal governments to aid local governments in stemming the decline and stim…

55:19-20. Short title 1. This act shall be known and may be cited as the "New Jersey Urban Redevelopment Act."L.1996,c.62,s.1.

55:19-21. Findings, determinations relative to urban redevelopment 2. The Legislature finds and determines that: a. As one of the nation's most densely populated States and one of the earliest settled, New Jersey is beset by a host of urban problems attendant upon economic obsole…

55:19-22 Definitions relative to urban redevelopment. 3. As used in P.L.1996, c.62 (C.55:19-20 et al.), except as otherwise clearly required by the context: "Authority" means the New Jersey Redevelopment Authority established pursuant to section 4 of P.L.1996, c.62 (C.55:19-23). …

55:19-23. New Jersey Urban Development Corporation reconstituted as New Jersey Redevelopment Authority 4. a. The New Jersey Urban Development Corporation established pursuant to P.L.1985, c.227 (C.55:19-1 et seq.) is reconstituted as the New Jersey Redevelopment Authority. For th…

55:19-24. Powers of authority 5. The authority shall have the following powers: a. to sue and be sued; b. to have a seal and alter the same at the authority's pleasure; c. to enter into contracts upon such terms and conditions as the authority shall determine to be reasonable, in…

55:19-25. Prioritization of projects 6. The authority, in determining which projects to approve for financing, shall accord first priority to any project situated in a municipality which at the time the application for project financing is submitted is eligible to receive aid und…

55:19-26. Volunteer cooperation, assistance of private business firms, executives 7. In planning and carrying out projects pursuant to P.L.1996, c.62 (C.55:19-20 et al.) the authority and its subsidiaries shall endeavor to enlist the cooperation and assistance, on a volunteer bas…

55:19-27. Additional powers of authority 8. a. In order to carry out the purposes and provisions of P.L.1996, c.62 (C.55:19-20 et al.), the authority, in addition to any powers granted to it elsewhere in P.L.1996, c.62 (C.55:19-20 et al.), shall have the authority to form, purcha…

55:19-28. Joint ventures 9. The authority, or any subsidiary, may enter into agreements with any individual, partnership, trust, association or corporation, or any public agency, under which the authority or subsidiary and such other entity or entities shall undertake a project a…

55:19-29. Loans for projects 10. The authority, or any subsidiary, may make loans to any individual, partnership, trust, association or corporation for the purpose of enabling such entity to undertake any work, improvement or other activity in a qualified municipality which, if u…

55:19-3. Definitions 3. As used in this act, except as otherwise clearly required by the context: a. "Board" or "board of directors" means the directors of the corporation appointed pursuant to section 4 of this act. b. "Corporation" means the New Jersey Urban Development Corpora…

55:19-30. Authority empowered to issue bonds 11. For the purpose of providing funds to pay all or any part of the cost of any project or projects, to make loans in accordance with the provisions of P.L.1996, c.62 (C.55:19-20 et al.), and for the funding or refunding of any bonds,…

55:19-31. Issuance of bonds 12. By resolution, the authority shall have power to incur indebtedness, borrow money and issue its bonds for the purposes stated in section 11 of P.L.1996, c.62 (C.55:19-30); provided, however, that the authority shall not issue more than $100 million…

55:19-32. Bond, other obligation deemed fully negotiable 13. Any provision of any law to the contrary notwithstanding, any bond or other obligation issued pursuant to P.L.1996, c.62 (C.55:19-20 et al.) shall be fully negotiable within the meaning and for all purposes of Title 12A…

55:19-33. Power of authority to covenant, agree with bondholders 14. In order to secure the payment of such bonds and in addition to its other powers, the authority shall have power by resolution to covenant and agree with the several holders of such bonds, as to: a. the custody,…

55:19-34. Pledge of revenues, other moneys valid, binding 15. Any pledge of revenues or other moneys made by the authority shall be valid and binding from the time that the pledge is made. The revenues or other moneys so pledged and thereafter received by the authority shall imme…

55:19-35. Lawful investments in authority securities 16. Any public or private agency, organization, corporation, or association which is not legally barred from investing in the bonds or stock of the New Jersey Housing and Mortgage Finance Agency or any of its subsidiary corpora…

55:19-36. Liability on bonds 17. Neither the members of the authority nor any person executing bonds issued pursuant to P.L.1996, c.62 (C.55:19-20 et al.) shall be liable personally on the bonds by reason of the issuance thereof. Bonds or other obligations issued by the authority…

55:19-37. Conflicts prohibited; remedies 18. a. No member, officer, agent or employee of the authority or of any of its subsidiaries shall take any official action on any matter in which he or she has a direct or indirect financial interest, except that the ownership of, or tenan…

55:19-38. Prevailing wages 19. Any builder, contractor or subcontractor engaged upon a project within the meaning of P.L.1996, c.62 (C.55:19-20 et al.), and any person, firm or authority managing or operating such a project, including the authority and its subsidiaries, shall pay…

55:19-39. Public hearing on project 20. a. Under the jurisdiction and at the discretion of the authority, there may be a public hearing on each project, the cost of which is estimated to exceed $250,000, within the municipality in which the project is to be located. In the event …

55:19-4. Urban Development Corporation a. There is established the New Jersey Urban Development Corporation. For the purpose of complying with the provisions of Article V, Section IV, paragraph 1 of the Constitution, this corporation is allocated to the Department of Commerce and…

55:19-40. Property, securities of authority, tax exempt; in lieu of tax payments 21. The exercise of the powers granted by P.L.1996, c.62 (C.55:19-20 et al.) shall constitute the performance of an essential governmental function and the authority shall not be required to pay any …

55:19-41. Agreements between contiguous municipalities to share project revenues 22. The governing bodies of any two contiguous municipalities within which is located or is to be located a New Jersey Redevelopment Authority project situated in part within each municipality, may b…

55:19-42. Responsibility of each municipality set forth in agreement 23. Any agreement entered into pursuant to section 22 of P.L.1996, c.62 (C.55:19-41) for the sharing of payments and revenues derived from a project shall also set forth the manner in which the costs of municipa…

55:19-43. Investments permitted 24. Notwithstanding any restriction contained in any other law, the State and all political subdivisions of this State, and all other persons who are or may hereafter be authorized to invest in bonds or other obligations of the State, may invest an…

55:19-44. P.L.1996, c.62 complete authority for issuance of bonds 25. The foregoing sections of P.L.1996, c.62 (C.55:19-20 et al.) shall be deemed to provide a complete method for the doing of things authorized thereby and shall be regarded as not in conflict with, or as restrict…

55:19-45. Submission of New Jersey Redevelopment Strategy document 26. With its first annual report, and every second year thereafter, the authority shall submit a New Jersey Redevelopment Strategy document, setting forth the goals and priorities governing the selection of the pr…

55:19-46. New Jersey Redevelopment Investment Fund 27. a. There is hereby created the New Jersey Redevelopment Investment Fund, or "fund," a revolving loan pool to be used for the purpose of making loans, loan guarantees or grants pursuant to the provisions of this act, into whic…

55:19-47. Establishment of loan rates, maturities; earnings paid to the fund 28. a. Loan rates and maturities of loans made by the New Jersey Redevelopment Authority shall be established by the Commissioner of Commerce and Economic Development taking into consideration rates avai…