The Committee shall have the following duties and powers:
   (A)   It shall meet at least once every six weeks, except during the months of June, July and August. Additional meetings may be called at any time by the Chairperson, the Village President, or the Village Trustee serving as liaison to the Committee. All meetings shall be open to the public, and the Committee shall comply in all respects with statues and ordinances pertaining to open meetings and availability of public documents. In the event a quorum of the Committee is not present for a meeting, the members present may discuss the business of the Committee but may make and record no votes except a vote on a motion to adjourn the meeting to a later time and place.
   (B)   It shall have the duties of the former Economic Development Commission, and as such shall consider and, when requested by the President or the Village Board, render reports regarding the following subjects:
      (1)   Survey existing information and determine what additional information is needed.
      (2)   Assess the types of development that will be supported by the community;
      (3)   Develop a strategy for expansion of Chatham's economic base with a view to increasing services available to citizens and net tax revenues for the village;
      (4)   Determine whether the village should engage an economic development consultant, and if so, recommended a consultant.
   (C)   It shall advise the Village Board regarding redevelopment issues and opportunities within any redevelopment project area, including but not limited to considering all applications for private redevelopment project activities in any TIF District, and when requested by the corporate authorities, for public redevelopment project activities in any TIF District (as those terms are defined in "An Ordinance Approving the Village of Chatham Downtown Tax Increment Redevelopment Plan, Designating the Downtown Tax Increment Project Area, Adopting Tax Increment Financing and Establishing Procedures with Respect to the Downtown Tax Increment Financing Area and Plan, Ordinance No. 92-47), in accordance with "Regulations Governing Applications for Private Redevelopment Project Activities--Village of Chatham TIF Districts" attached to Ordinance No. 96-93 as Exhibit A.
(Ord. 96-93, passed 5-28-96)