(A) The County Board of Commissioners now deems it to be in the best interest of the county and its citizens to afford a maximum opportunity for rehabilitation, redevelopment or economic development of areas by private enterprise and the county by establishing a Department of Redevelopment.
(B) The Board of Commissioners hereby establishes the Department of Redevelopment of the County. The Department will be controlled by a board of five members known as the County Redevelopment Commission.
(C) Pursuant to I.C. 36-7-14 and I.C. 36-7-25, all of the territory within the corporate boundaries of the county will be a taxing district to be known as the Tippecanoe County Redevelopment District for the purpose of levying and collecting special benefit taxes for redevelopment and economic development purposes as provided in I.C. 36-7-14 and I.C. 36-7-25. The Board of Commissioners 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 under I.C. 36-7-14 and I.C. 36-7-25 to the extent of the special taxes levied under those sections.
(D) (1) The Board of County Commissioners shall appoint all five of the members of the County Redevelopment Commission.
(2) The term of office of the members of the County Redevelopment Commission shall commence from the date of their appointment and expire on January 1, 2002.
(3) Members shall be appointed, or reappointed, to serve annually in subsequent calendar years, commencing on January 1 and ending on December 31.