[HISTORY: Adopted by the City Council of Atlantic City 4-15-1987 by Ord. No. 24-1987. Amendments noted where applicable.]
Administration of government — See Ch. 4.
There is hereby created the Atlantic City Local Development Board, said Board to be placed in the Department of Planning and Development.
The aforesaid Board shall consist of nine members. Six members shall be appointed by the City Council, and three members shall be appointed by the Mayor. The members selected shall elect the Chairman. The terms of appointment shall be for three years. The initial terms of the members first appointed under this chapter shall be staggered to the extent that the appointments by Council shall be two for one year, two for two years and two for three years. For the Mayor, it shall be one for one year, one for two years and one for three years. Thereafter, the appointments shall be for the full three-term term. If a vacancy shall occur other than by expiration of a term, it shall be filed by appointment, as provided above, for the unexpired term only. Each member must be a resident throughout the term of appointment.
[Amended 11-7-1990 by Ord. No. 80-1990]
The Atlantic City Local Development Board shall have the powers necessary and appropriate to administer and provide assistance to any entity qualified to be a subrecipient under the Community Development Block Grant rules and regulations §§ 570.203 and 570.204, including but not limited to granting loans, loan guaranties, interest supplements, technical assistance and other forms of support necessary or appropriate to carry out all activities which may be authorized under the aforesaid Community Development Block Grant rules and regulations as presently in effect and as they may be amended in the future; provided, however, that nothing in this provision shall authorize loans for commercial rehabilitation.
Editor's Note: Section 2 of this ordinance provided that: "All assistance provided under this legislation shall be limited to businesses based in Atlantic City and shall be conditioned upon adequate proofs thereof and upon the continued location of the business applicant in Atlantic City during the term of such assistance."
The Atlantic City Local Development Board is empowered to promulgate such rules and regulations as it deems necessary to implement the purpose of this chapter.
Funding for the Atlantic City Local Development Board shall be from Community Development Block Grant entitlements funds or any other entitlements or grants the Board may obtain, but in no event shall city funds be used. However, the city shall not have any further obligation to provide funding from the City of Atlantic City to said Board. There shall be an application made for Community Development Block Grant funds by the city on an annual basis.