(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. The Department will be controlled by a board of five members known as the Fortville 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 Fortville Redevelopment District for the purpose of levying and collecting special benefit taxes for redevelopment and economic development purposes as provided in the Act. The Town Council finds and determines that all of the taxable property within this special
taxing district will be considered to be benefited by the redevelopment projects and economic development projects carried out under the Act to the extent of the special taxes levied under the Act.
(Ord. 2002-10A, passed 10-22-02)