N.J. Stat. § 52:27D-489l
Creation of municipal redevelopment utility permitted
New Jersey · New Jersey Statutes Title 52 — State Government, Departments and Officers · Status: effective
Cite this
- Citation
- N.J. Stat. § 52:27D-489l, Creation of municipal redevelopment utility permitted, New Jersey, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1480922
- Permanent ID
ys:prov:1480922@1- SHA-256
05c1d7c276e3e4784df0fc68d4ecea721d91896901a3c786e7d5dda1986c2630
The hash is SHA-256 of this version's text, with every run of whitespace collapsed to a single space and the ends trimmed. The ID always leads back here, and checking it says whether the text you cited is still the current version.
Full text
12. a. A municipality may adopt an ordinance creating a municipal redevelopment utility under the name and style of "the __________ redevelopment utility," with all or any significant part of the name of the municipality inserted. The redevelopment utility shall be a municipal public utility for the purposes of Title 40A of the New Jersey Statutes.
b. The purpose of every redevelopment utility shall be to receive revenues collected pursuant to section 11 of P.L.2009, c.90 (C.52:27D-489k) and to use those revenues as payment of incentive grants, and for other local purposes that may be approved by the Local Finance Board, as that board deems necessary or useful.
c. If a municipality does not create a municipal redevelopment utility, then any revenues collected pursuant to section 11 of P.L.2009, c.90 (C.52:27D-489k) and any grants received to pay incentive grants shall be treated as riders in the municipal budget pursuant to N.J.S.40A:4-36.