(A) The Town Council now deems it to be in the best interest of the town and its citizens to afford a maximum opportunity for rehabilitation, redevelopment, or economic development of areas by private enterprise and the town by establishing a department of redevelopment.
(B) The Town Council hereby establishes the Department of Redevelopment of the town. The Department will be controlled by a Council of five members known as the Town Redevelopment Commission.
(C) Pursuant to the Act, all of the territory within the corporate boundaries of the town will be a taxing district to be known as the “Redevelopment District of Bourbon” for the purposes of levying and collection of special benefit taxes for redevelopment purposes as provided in the Act. The property within this special taxing district will be considered to be benefitted by the redevelopment projects and economic development projects carried out under the Act to the extent of special taxes levied under the Act.
(D) (1) Two members of the Town Council, appointed by a majority of the Town Council, shall be members of the Town Redevelopment Commission (“Commission”) and shall hold such membership coterminous with their term of Town Council membership.
(2) The President of the Town Council shall appoint the remaining three members of the Commission.
(3) In addition, said President shall appoint one member to the Commission who is also a member of the Council of the Triton School Corporation who shall be a non-voting member of the Commission and whose term shall be coterminous with his or her term on the Council of the Triton School Corporation.
(4) The term of office of the three members of the Commission appointed by the Town Council President and the one non-voting member of the Commission appointed from the Council of the Triton School Corporation shall commence from the date of their appointment and expire on January 1, 2016. All future appointments of such members shall be for two-year terms.
(Ord. 2014-6, passed 11-11-2014)