A. The governing body assigns to the CBIC the following responsibilities with regard to the economic development plan for the village of Cloudcroft:
1. Identifying qualifying entities per section 1-9-4 of this chapter;
2. Reviewing and making recommendations to the governing body on applications for assistance for economic development projects; and
3. Reviewing and making recommendations to the governing body on applications for industrial revenue bonds (IRBs).
B. The mayor of the village of Cloudcroft, with the advice and consent of the village council, may appoint a member of the CBIC. (Ord. 346, 8-11-2008)