Section 1. The general court finds and declares that: (a) the commonwealth has already designated certain chronically depressed areas, and may hereafter designate other such areas, as target areas; (b) the development of these target areas will promote employment and the fuller utilization of local resources and will enhance the fiscal health of the commonwealth […]
Section 2A. (a) The director of housing and community development shall establish and maintain a list of organizations that have been certified as CDCs consistent with this chapter and develop a process for certifying those organizations; provided, however, that the organizations shall be recertified at least once every 4 years. The process shall include an […]
Section 3. (a) There is hereby created a body politic and corporate, to be known as the Community Economic Development Assistance Corporation or CEDAC. CEDAC is hereby constituted a public instrumentality and the exercise by CEDAC of the power conferred by this chapter shall be deemed to be performance of an essential governmental function. The […]
Section 4. CEDAC shall have the following powers: (a) to make, amend and repeal bylaws, rules and regulations for the management of its affairs; (b) to adopt an official seal; (c) to sue and be sued, in its own name; (d) to make contracts and execute all instruments necessary or convenient for the exercise of […]
Section 5. CEDAC may, subject to appropriation by the general court or funds made available from any other public or private source and pursuant to rules and regulations adopted by it, provide technical and financial assistance to particular eligible organizations or projects intended to contribute to the public purposes of this chapter generally; provided, however, […]
Section 6. CEDAC shall annually submit a complete and detailed report of the corporation’s activities within ninety days after the end of the fiscal year to the clerk of the house of representatives and to the clerk of the senate.
Section 8. The provisions of this chapter being necessary for the welfare of the commonwealth and its inhabitants, shall be liberally construed to effect its purposes.
Section 9. CEDAC shall be subject to section 16G of chapter 6A and section 56 of chapter 23A.
