(A) The city, pursuant to the provisions of the general statutes, hereby joins with the Town of Wolcott in the formation of a Regional Economic Development Commission, whose area of jurisdiction shall be coterminous with the area of this city and the area of the Town of Wolcott, and whose membership shall be determined jointly by the Waterbury Economic Development Commission and the Wolcott Economic Development Commission.
(B) The Regional Economic Development Commission shall have the same duties and authorities, in respect to its area of jurisdiction, as a municipal commission has in respect to the municipality. The city may annually appropriate to the Commission a sum which, in addition to any amount appropriated to its municipal commission, will not exceed one-twentieth of one percent of its last completed grand list of taxable property.
(C) The members of the Regional Economic Development Commission from the city shall receive no compensation for their services as such, but shall be reimbursed for their necessary expenses incurred in the performance of their official duties.
(Ord. passed 4-20-2004)