Redevelopment Commissioners shall have the qualifications prescribed by the laws of the state as from time to time amended and shall qualify as therein provided; and shall exercise and enjoy the rights and powers and assume the duties and obligations conferred and imposed by the IC 36-7-14, including but not limited to the following qualifications:
(A) A Redevelopment Commissioner must be at least 18 years of age and must be a resident of the city. If a Commissioner ceases to be qualified under this section, he or she forfeits his or her office.
(B) No Redevelopment Commissioner shall receive a salary, but such Commissioners are entitled to reimbursement for expenses necessarily incurred in the performance of their duties.
(C) A Redevelopment Commissioner may not have a pecuniary interest in any contract, employment, purchase or sale made under the provisions of this subchapter and IC 36-7-14. However, any property acquired for redevelopment purposes in which a Commissioner has a pecuniary interest may be acquired, but only by gift or condemnation. A transaction made in violation of this section is void.
(Ord. 29, passed 11-16-93)