We study a mixed integer linear program with m integer variables and k non-negative
continuous variables in the form of the relaxation of the corner polyhedron that was
introduced by Andersen, Louveaux, Weismantel and Wolsey [Inequalities from two rows of a
simplex tableau, Proc. IPCO 2007, LNCS, vol. 4513, Springer, pp. 1--15]. We describe the
facets of this mixed integer linear program via the extreme points of a well-defined
polyhedron. We then utilize this description to give polynomial time algorithms to derive
valid inequalities with optimal l_p norm for arbitrary, but fixed m. For the case of m=2,
we give a refinement and a new proof of a characterization of the facets by Cornuejols and
Margot [On the facets of mixed integer programs with two integer variables and two
constraints, Math. Programming 120 (2009), 429--456]. The key point of our approach is that
the conditions are much more explicit and can be tested in a more direct manner, removing
the need for a reduction algorithm. These results allow us to show that the relaxed corner
polyhedron has only polynomially many facets.