(A)   Redevelopment Commission established. The Town Council herein establishes a Department of Redevelopment to be administered by the town’s Redevelopment Commission, pursuant to I.C. 36-7-14.
(Prior Code, § 2-49.1)
   (B)   The purpose of the Redevelopment Commission is for the assessment, planning, replanning, remediation, development and redevelopment of economic development areas.
   (C)   (1)   Pursuant to this section, all of the territory within the corporate boundaries of the town will be a taxing district to be known as the “Redevelopment District of Cloverdale” for the purpose of levying and collecting special benefit taxes for redevelopment purposes as provided in the Act.
      (2)   The Town Council finds and determines that all of the taxable 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 the special taxes levied under the Act.
   (D)   Board members. The Commission will be controlled by a board of five members, appointed as follows:
      (1)   The President of the Town Council shall appoint three of the five members of the town’s Redevelopment Commission. The Town Council shall appoint the remaining two.
      (2)   A Commissioner must be at least 18 years of age.
      (3)   A Commissioner may not have any pecuniary interest in any contract, purchase or sale made by the Commission in exercise of its power.
      (4)   A Commissioner shall reside in the town limits.
(Prior Code § 2-49.3)
   (E)   Terms of office; election of officers.
      (1)   Each Commissioner shall serve for one year from January 1, after his or her appointment and until his or her successor is appointed and qualified. If a vacancy occurs, a successor shall be appointed in the same manner as the original Commissioner, and the successor shall serve for the remainder of the vacated term.
      (2)   A member may be summarily removed from this Commission by the appointing authority at any time.
      (3)   A member may not receive a salary, gift, profit, or money, nor may any benefit inure to a member for service on the Commission.
      (4)   If a vacancy occurs, the appointing authority shall fill the vacancy by appointing a new member for the term vacated.
      (5)   The Redevelopment Commission shall hold a meeting for the purpose of organization not later than 30 days after appointment. It shall select members to serve as President, Vice President and Secretary. The terms of the officers run from the date of their election until their successors are appointed and qualified.
      (6)   If a Commissioner ceases to be qualified for his or her position for any reason, he or she forfeits his or her office.
(Prior Code, § 2-49.4)
   (F)   Bond and oath.
      (1)   Each Commissioner, before beginning his or her duties, shall take and subscribe an oath of office, to be filed with the Clerk-Treasurer.
      (2)   Each Commissioner, before beginning his or her duties, shall execute a bond in the amount of $15,000 payable to the state with surety and approved by the executive of the unit. The bond shall be paid by the redevelopment special taxing district.
(Prior Code, § 2-49.5)
   (G)   Quorum A quorum consists of a majority of the entire membership.
(Ord. 2008-18, passed 10-14-2008)