[HISTORY: Adopted by the City Council of Atlantic City 4-15-1987 by Ord. No.
24-1987. Amendments noted where applicable.]
GENERAL REFERENCES
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[1]]
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.
[1]
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.
