Terms Used In New Jersey Statutes 27:25-5.23

  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
1. The New Jersey Transit Corporation shall establish an office of real estate economic development and transit-oriented development. The office shall assess and develop recommendations for economic development and transit-oriented development opportunities for parcels of real property in which the corporation holds a property interest in order to increase the corporation’s non-fare revenue sources. The office shall report to the Executive Director of the corporation, at least annually, all recommendations developed pursuant to this section with an estimate of the amount of non-fare revenue likely to be generated by each recommendation.
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