(A) The city hereby recognizes the benefits of participating in the Central Regional Development Authority for the citizens of the city and the surrounding areas.
(B) The Mayor and the city administration are hereby authorized to negotiate and present an agreement consistent with this section, I.C. 36-7.6-2-1 and Chapter 115, Article III of the Revised Code of Ordinances of the City of Indianapolis for consideration by this Council.
(C) (1) (a) The Council hereby authorizes the city to become a member of the Development Authority pursuant to the Act (I.C. 36-7.7 et seq.).
(b) The city shall be a member of the development authority for not less than five years.
(2) The Council shall adopt the plan by separate resolution, which resolution shall be substantially similar to the resolutions of other participating members of the Development Authority.
(3) The city shall notify the Indiana Economic Development Commission of its membership in the Development Authority.
(Prior Code, § 26-151) (Ord. 15-20, passed 6-22-2015; Ord. 22-37, passed 2-13-2023)