(A) Establishment. The Common Council of the city, pursuant to the provisions of IC 36-7-14-1 et seq., and as that statute may be amended in the future, hereby establishes a Department of Redevelopment of the city. The Department shall be controlled by a board of five members. Said board shall be known as the Kokomo Redevelopment Commission. All Commission members shall be at least 18 years of age and shall be a resident of the city.
(B) Powers and duties. Said commission shall have the powers and duties set out in IC 36-7-14-1 et seq., and IC 36-7-25-1 et seq.
(C) Taxing. All of the territory within the corporate boundaries of the city will be a taxing district to be known as the Kokomo Redevelopment District for the purpose of levying and collecting special benefit taxes for redevelopment and economic development purposes as provided in IC 36-7-14-1 et seq. The Common 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.
(D) Appointment. As provided in IC 36-7-14-6.1, the Mayor shall appoint three of the five members of the Kokomo Redevelopment Commission. Two members shall be appointed by the Common Council.
(E) Terms of office. The term of office of appointees to the Kokomo Redevelopment Commission shall commence on the first day of January after the appointment is made and until a successor is appointed and has qualified.
(Ord. 6142, passed 10-25-99)