(2) Purposes and Powers. The Commission is created for the general purpose of maintaining and improving the economic, cultural, and environmental vitality and quality of the Town of St. Johnsbury and, in particular, the District created by this subsection; to promote the Town and the District as a regional retail, commercial, and service center; and to serve as an advocate for orderly development of the District in order to encourage expansion of the retail, commercial, and service base of the District and the Town by attracting new business and investment. The rights, powers, and duties of the Commission acting on its own authority or acting through the Town of St. Johnsbury Selectboard, as set forth in this section, shall be broadly construed to accomplish the purposes set forth within the District and shall include the following:
(A) to prepare a budget (the "budget") for the District in accordance with subdivision (1) of this subsection;(B) to advertise and promote the District;(C) to represent the interests of the District;(D) to hire and remove personnel as provided for in the budget or as otherwise approved by the Selectboard;(E) to apply for available governmental grants in aid and economic and in kind incentives when approved by the Selectboard;(F) to receive and expend contributions, grants, and income;(G) to apply for an allocation of the State's private activity bond volume cap under 26 U.S.C. § 141, as amended, when approved by the Selectboard;(H) to expend funds as provided for in the budget or as otherwise approved by the Selectboard;(I) to manage and maintain public spaces and to assume or supplement the services and maintenance heretofore provided the District by the Town as recommended to and approved by the Selectboard;(J) to acquire and dispose of property as recommended to and approved by the Selectboard;(K) to install and make public improvements as recommended to and approved by the Selectboard;(L) to cooperate with the Town in the use, management, and improvement of public parking facilities and to undertake such management or improvements and to regulate vehicular traffic within the district as recommended by the Selectboard;(M) to enter into contracts;(N) to regulate, lease, license, establish rules and fees, and otherwise manage the use of public spaces within the District;(O) to plan for the orderly development of the District in cooperation with the Town Planning Commission and as recommended to and approved by the Selectboard;(P) to do all other things necessary or convenient to carry out the purposes of this subsection except that the Commission may not assume authority over any subject matter or activity under the jurisdiction of another Town official, department, or board as of the effective date of this subsection or contrary to any order or ordinance in effect as of such date other than to hire and remove personnel under contract or employed by the Commission, unless and until the Selectboard, by order, transfers such jurisdiction to the Commission, notwithstanding section 8 of the charter, or amends the order or ordinance.