Community Development Law

This act authorizes municipalities to create redevelopment commissions as public corporate bodies, chartered by the state, and empowers them to plan and carry out projects that clear, acquire, and redevelop blighted or deteriorated property. It sets out how such a commission is governed — the appointment, terms, compensation, and removal of commissioners, quorum and officer requirements, conflict-of-interest restrictions on members and employees, and the option for two or more municipalities to form a joint commission — and requires that its records be open to public inspection and that it report annually on its activities. Its central mechanisms are the redevelopment plan, which must be adopted after a public hearing and approved by the parent municipality before a project proceeds, and the power to finance projects by issuing and selling bonds, subject to notice and a defined window for challenge, alongside authority to contract for services, solicit bids from prospective purchasers or redevelopers, and convey real estate under the plan.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.