The Newton Community Development Corporation was created to help improve the community's quality of life including parks, sports facilities, athletic facilities, tourism and entertainment facilities as well as primary jobs, economic development and to provide funding and other assistance to new and existing businesses. The Corporation is a legal entity with statutory authority to spend economic development sales tax dollars. The corporation is city-chartered and governed by a city appointed board of directors. The Newton CDC is a “4B Corporation” that was approved by local voters in 1994.
What can a 4B Corporations do?
Project that improve a community quality of life, including parks, professional and amateur sport and athletic facilities, tourism and entertainment facilities, affordable housing and other improvements or expenditures that that promote new or expanded business activity that create or retain primary jobs. The Corporation can do everything authorized under 4A section of the Development Corporation Act.
The Corporation is prohibited from using revenues to build learning centers and municipal buildings.