(A) There is hereby established a Tax Abatement Review Committee for the town. The Committee shall consist of five members, each of whom shall be appointed by the President of the Town Council, to serve at the pleasure of a majority of the Town Council and until a successor is appointed and qualified by the taking of an oath of office. One Committee appointment shall be made from the membership of each of the Economic Development Commission, the Plan Commission and Town Council. The remaining two members of the Committee shall be appointed from the membership of the town’s Chamber of Commerce Executive Board, one of whom shall represent the Industrial Division thereof. All Committee members shall reside within the corporate limits of the town.
(B) Within 30 days after its appointment, the Tax Abatement Review Committee shall be convened in meeting by call of the President of the Town Council, at which meeting the Committee shall organize by its selection of a Chairperson and Secretary. The Chairperson shall thereafter preside at meetings of the Committee and the proceedings of the Committee shall be reduced to writing by the Secretary and filed with the Clerk-Treasurer of the town. The Committee shall thereafter organize annually at its first regular meeting on or after January 1 of each calendar year.
(C) Jurisdiction of the Tax Abatement Review Committee shall be as defined in certain ordinances listed in the Table of Special Ordinances portion of this code of ordinances.
(D) Proceedings of the Tax Abatement Review Committee shall be subject to the provisions of I.C. 5-14-1.5-1 et seq., commonly known as the “Indiana Open Door Law”, as now or hereafter amended. Each applicant for tax abatement shall publish notice of the public hearing thereon by publishing notice thereof one time, at least ten days before the date of the hearing in a newspaper, as required and as defined in I.C. 5-3-1-1 et seq. The cost of publication of notice shall be borne by the applicant, proof of payment of which shall be submitted to the Secretary of the Committee prior to the commencement of the hearing on the tax abatement application.
(Prior Code, Title I, Ch. III, Art. IV)