(A) The Common Council of the city now deems it to be in the best interest of the city and its citizens to afford a maximum opportunity for rehabilitation, redevelopment and/or economic development of areas by private enterprise and the city by establishing a Department of Redevelopment.
(B) The Common Council hereby establishes a Department of Redevelopment to be known as the "Mount Vernon Redevelopment Commission" to be controlled by a board of five members ("Redevelopment Commission").
(C) Pursuant to the Act, all of the territory within the corporate boundaries of the city will constitute a special taxing district to be known as the City of Mount Vernon Redevelopment District ("Redevelopment District") for the purpose of levying and collecting special benefit taxes for redevelopment and economic development purposes as provided in the Act. The Common Council finds and determines that all of the taxable property within the Redevelopment 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.
(D) The Mayor of the city shall appoint three of the five members of the Redevelopment Commission.
(E) The Common Council shall appoint two initial members of the Redevelopment Commission, each of whom shall satisfy the requirements in division (F) hereof, as members of the Redevelopment Commission.
(F) Members of the Redevelopment Commission shall be at least 18 years of age and must be residents of the city. Members shall take and subscribe an oath of office before beginning the duties thereof and shall execute a bond as set forth in I.C. 36-7-14-7.
(G) The term of office of the members of the Redevelopment Commission shall commence from the date of their appointment and expire on January 1, 2008.
(Ord. 06-09, passed 3-20-06)