New Jersey § 52:9q-10

§ 52:9q-10.

The Legislature finds and declares that: a. The city of Trenton is of unique significance to the State and the nation both

as the State capital and center of State governmental operations, and as the site

of the battle which in the nation's memory turned the tide toward American independence; b. The historic and public importance of the city, once contemplated as the site of

the nation's capital has too long been neglected in a State which lacks a demographic

or commercial center of sufficient magnitude to serve as a focus for State identity

and pride, and, as a result, the city is in great need of redevelopment and revitalization; c. The actions and decisions of the State government are vitally connected to the

redevelopment and revitalization of those portions of the city which serve as the

commercial center of the community and in which public buildings and historic sites

are located; d. It is a public purpose of this State to establish a capital district within the

city and to create a redevelopment corporation operating within the boundaries of

the district, which will plan, coordinate and promote the public and private development

of the district in a manner which enhances the vitality of the district as a place

of commerce, recreation and culture and as an area in which to conduct public business

and visit historic sites and thereby restores the prominence and prestige of the seat

of State government for the benefit of all of the citizens of this State; e. In the exercise of its powers toward this public purpose, the Capital City Redevelopment

Corporation will plan, coordinate and encourage an appropriate balance of governmental

and nongovernmental facilities and activities in the district, and assist in the provision

of public, recreational and cultural facilities, in the preservation and restoration

of historic structures and sites, and in the stimulation of private investment in

the district in order to establish it as a source of State pride equal in standard

to the best of State capitals in the country ; and f. To facilitate the redevelopment of the city of Trenton and provide for increased

cooperation between the city and the State, it is necessary to provide the Capital

City Redevelopment Corporation with additional powers, including the authority to

act as a municipal redevelopment entity, create subsidiaries, enter into partnerships

with private developers, hold its own funds and to issue bonds, notes and other obligations

paid for from non-State sources to fund redevelopment projects, and to expand the

composition of its board .