(A) There is established the Department of Redevelopment of the city. The Department will be controlled by a board of five members known as the City Redevelopment Commission.
(B) Pursuant to I.C. 36-7-14, all of the territory within the corporate boundaries of the city will be a taxing district to be known as the city’s redevelopment district for the purpose of levying and collecting special benefit taxes for redevelopment purposes as provided in I.C. 36-7-14.
(C) (1) Pursuant to I.C. 36-7-14.5-7, the City Redevelopment Authority (the “Redevelopment Authority”) is hereby created as a separate body corporate and politic and as an instrumentality of the city for the purposes and to exercise the powers set forth in the Act or otherwise by law.
(2) The Redevelopment Authority shall be governed by a board of directors consisting of five members, each of whom shall be appointed by the Mayor.
(3) The Clerk-Treasurer shall serve as the Secretary of the Redevelopment Authority.