Such Redevelopment Commissioners shall have the qualifications prescribed by the laws of the State of Indiana as from time to time amended and shall qualify as therein provided and shall exercise and enjoy the rights and powers and assume the duties and obligations conferred and imposed by the Redevelopment Act, including, but not limited to, the following qualifications:
(A) A Redevelopment Commissioner must be at least 18 years of age, and must be a resident of the town. If a Redevelopment Commissioner ceases to be qualified under this division, he or she forfeits his or her office.
(B) No Redevelopment Commissioner shall receive a salary, but such Redevelopment Commissioners are entitled to reimbursement for expenses necessarily incurred in the performance of their duties.
(C) A Redevelopment Commissioner may not have a pecuniary interest in any contract, employment, purchase or sale made under such provisions of this subchapter and the underlying statutes. However, any property required for redevelopment purposes in which a Redevelopment Commissioner has a pecuniary interest may be acquired, but only by giving an interest or condemnation. A transaction made in violation of this division is void.
(Ord. 2014-14, passed 8-25-14)