3.140 Manitowoc Industrial Development Corporation.

The Manitowoc Industrial Development Corporation, formerly the Manitowoc Industrial Park Corporation, is hereby designated as the City’s agent to encourage and promote the development of industry, to provide greater employment opportunities and to broaden the City’s tax base in order to relieve the tax burden of other City residents. The Corporation shall be empowered to act on behalf of the City of Manitowoc in accordance with authority granted by resolutions of the Common Council. The Corporation shall be responsible for ongoing management of current and future industrial parks, implementation of any industrial revolving loan programs approved by the Common Council and industrial marketing. The Corporation shall also make recommendations to the Common Council concerning development of industrial development policy.

[Prior code § 3.14]