[Adopted 6-11-2012 by Ord. No. 12-05; as amended 7-9-2012]
A. 
There is hereby created a redevelopment agency for the Town in accordance with Section 8-126 of the Connecticut General Statutes, said agency to be known as the "Stratford Redevelopment Agency."
B. 
Stratford Redevelopment Agency will utilize public and private sector investment to pursue economic development success by creating programs uniquely suited for Stratford. To that end, the Stratford Redevelopment Agency will develop, facilitate and pursue a variety of programs to foster, cause, encourage and support economic development. To accomplish this goal, the Stratford Redevelopment Agency will acquire government and private-sector funding and grants that focus on, but are not limited to, administering Brownfield redevelopment.
The Agency shall exercise all of the powers, duties and responsibilities as set forth in Chapters 130 and 132 of the Connecticut General Statutes, as amended from time to time, including, but not limited to, the power to acquire, lease, hold, manage and convey real and personal property, accept loans and make advances, rehabilitate and redevelop property, and create and acquire interests in any legal entity that is necessary or desirable to carry out such redevelopment, on properties that are either assigned or conveyed to the Redevelopment Agency by the Town Council. The Agency shall be subject to the limitations of the exercise of the power of eminent domain established by § 12-1 of the Stratford Town Code. The Agency may not bond or borrow money nor acquire or convey real property without the approval of the Stratford Town Council. The Agency may not lease real property for a period of longer than five years without the approval of the Stratford Town Council.
A. 
The Agency shall be composed of five electors resident in the Town; appointed by the Mayor as the chief executive officer of the Town and approved by the Town Council.
B. 
Of the members of the Agency first appointed, one each shall be designated to serve for one, two, three, four and five years respectively, terminating on June 30 of the respective year. All subsequent appointments of members shall be for terms of five years, commencing on July 1 of the respective year. Each member shall serve until such member's successor is appointed and qualified. Any vacancy shall be filled for the unexpired term in the same manner as original appointment. Each Director eligible for membership to the Board of Directors shall be eligible for re-election.
C. 
No member appointed to the Redevelopment Agency shall be a member of any Stratford Land Use Board or Commission or Stratford Tax Board or Commission.
D. 
Any member of the Agency shall serve at the pleasure of the Mayor.
Annually at its first meeting on or after July 1, the Agency shall select from among its members a Chairman and a Vice Chairman. In the case of the absence or incapacity of the Chairman, the Vice Chairman shall act in his place and stead.
A. 
The Agency shall keep records of its meetings and other activities.
B. 
The Agency shall annually, on or before September 30, submit to the Town Council a report of its activities for the prior fiscal year and its projected activities for the fiscal year then commencing. The Agency shall make such special reports as the Town Council may request from time to time.
A. 
The members of the Agency 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, subject to budgetary limitations.
B. 
No member(s), collectively or individually, shall engage in a transaction from which the member(s) received an improper benefit whether or not the benefit resulted from an action of the Agency.
In the performance of its duties and in the exercise of its powers aforesaid, the Agency shall not incur any expenses or obligate the Town to pay any expense in excess of the funds appropriated by the Town Council for such purpose.
The Agency may employ a secretary and such other officers, agents and other employees as it may require, subject to budgetary limitations and relevant Charter provisions.
The Agency shall coordinate its activities with the Town Planning Commission, Zoning Commission and Economic Development Commission as well as other interested officials and agencies of the Town, and the Agency may invite to attend and participate in its meetings and deliberations, but without vote, any person not a member of the Agency.
A public/private partnership between the Town of Stratford and the private sector will be developed to fund the activities of the Stratford Redevelopment Agency, subject to budgetary limitations and relevant Charter provisions.