§ 42-64.10-3 - Purposes. - Rhode Island Statutes

SECTION 42-64.10-3

   § 42-64.10-3  Purposes. – The corporation is authorized and established for the following purposes:

   (a) To develop, manage, and convey "Federal land" as definedin § 42-64-3(9) on behalf of the state, consistent with base reuse plansand plans duly adopted and/or ratified as provided for in this chapter.

   (b) To undertake projects as defined in § 42-64-3(20);provided, however, that the corporation shall not have the power to issue bondsor notes or exercise eminent domain, provided further that nothing herein shallbe deemed to limit or otherwise restrict or diminish the powers of the economicdevelopment corporation, in accordance with chapter 64 of this title, to issuebonds on behalf of the corporation or for a project of the corporation or toexercise eminent domain on behalf of the corporation or in conjunction with aproject of the corporation.

   (c) To establish, implement, and maintain high standards fordesign, improvement, operation, and use of property under its control in orderto provide sites and related amenities for high quality businesses that createhigh value added jobs in Rhode Island.

   (d) To foster and maintain effective working relations withits host and surrounding communities.

   (e) To establish a professional capacity for the state todevelop, manage, and market state lands for commercial purposes and to act as asubsidiary of the economic development corporation for this purpose.