In the resolution of intent, the governing body shall set a date for holding a public hearing on the adoption of a proposed resolution creating the authority and designation of the boundaries of the authority district(s).
The Authority shall be under the supervision and control of a board of seven members.
Term of Office
Members are appointed for a four-year term.
Local Development Finance Authority may:
- Study and analyze unemployment, underemployment and joblessness and the impact of growth upon the authority district.
- Plan and propose the construction, renovation, repair, remodeling, rehabilitation, restoration, preservation or reconstruction of a public facility.
- Develop long-range plans in cooperation with the agency which is chiefly responsible for planning in the municipality, to promote the growth of the authority district, and take steps that are necessary to implement the plans to the fullest extent possible to create jobs and promote economic growth.