Section 834 - Powers of municipal corporationEvery municipal corporation shall have the power:
(1) To establish within the municipality an area or areas designated as an NID.(2) To establish an authority to administer the NID or to designate an existing community development corporation or other existing nonprofit corporation to administer same or to create a community development corporation or other nonprofit corporation to administer same under sections 6 and 7 .(3) To appropriate and expend, in accordance with the specific provisions of the municipal enabling ordinance, municipal funds as may be required to:(i) Acquire by purchase or lease real or personal property deemed necessary to effectuate the purposes of the NID.(ii) Prepare or have prepared preliminary planning or feasibility studies to determine needed improvements in an NID, including, but not limited to, capital improvements, traditional streetscape and building renovations, retaining walls, street paving, street lighting, parking lots, parking garages, trees and shrubbery, pedestrian walks, sewers, water lines, rest areas, acquisition, rehabilitation or demolition of blighted buildings and structures, graffiti removal, security, marketing, promotions, advertising, business retention and recruitment activities, master leasing and property management, joint advertising, research and planning as well as the provision of additional services to supplement, not replace, existing municipal services provided within the NID.(4) To advance funds to an NIDMA as may be required to carry out the purposes of this act.(5) To collect special property assessments on behalf of the NIDMA levied on designated property owners within the NID and to employ any legal methods to insure collection of the assessments.(6) To acquire by gift, purchase or eminent domain, land, real property or rights-of-way which may be needed for the purposes of making physical improvements within the NID.(7) To issue bonds, notes or guarantees, in accordance with the provisions of general laws in the amounts and for the periods necessary, to finance needed improvements within any NID.(8) To review all proposed expenditures of funds within NIDs by NIDMAs and suggest changes to same where a nonprofit corporation is the NIDMA.(9) To include a sunset provision of no less than five years in the municipal enabling ordinance creating the NID and in the contract with the NIDMA.(10) To levy an assessment fee on property owners located within an NID needed to finance additional supplemental programs, services and improvements to be provided or made by the NIDMA. 2000, Dec. 20, P.L. 949, No. 130, § 4, effective in 60 days.