[Adopted 11-12-1991 by Ord. No. 9-91-0181 as Ch. 2, Art. IV, Div. 4, of the 1991 Code]
In accordance with Section 13.40 of the Charter, there is hereby established an Economic Development Commission for the Town.
The Economic Development Commission shall consist of nine members residing in the Town. Appointments shall be made by the Town Manager. It is desirable that the members be actively engaged in the field of public relations, finance, real estate, liaison and industry.
The terms of office of the original members of the Economic Development Commission shall be staggered. Annually thereafter, three members shall be appointed to serve for terms of two years. If there is a vacancy caused by resignation or for any other reason, the Town Manager shall appoint a person to fill the unexpired term.
The members of the Economic Development Commission shall serve without compensation.
The Economic Development Commission shall elect its Chairman from its members, and his term of office shall be for one year. The Commission may, at its discretion, likewise elect a Vice Chairman. The Commission shall also elect a Secretary in the same manner as the Chairman.
A. 
Regular meetings of the Economic Development Commission shall be held at least once each month on such dates as shall be fixed by the Commission. Special meetings shall be held as often as the Commission shall determine necessary. A quorum for the transaction of business at all regular and special meetings shall be five members with full voting powers.
B. 
All meetings of the Economic Development Commission shall be open to the public. All transactions shall be made a part of the public record and shall be open to the public view.
The Economic Development Commission shall adopt rules for the transaction of its business and shall keep a permanent record of all proceedings, resolutions and transactions.
The Economic Development Commission shall act in an advisory capacity to the Town Council and the Town Manager to promote and encourage the location and development of new business in the Town and to encourage the maintenance and expansion of trade and business in the Town.
It shall be the duty of the Economic Development Commission to promote, aid and assist in the development, expansion and location of industry and business in the Town, for the purpose of establishing an equitable balance between commercial and residential property. It may make surveys and compile statistics in furtherance of the purposes set forth in this article. The Commission shall perform such other duties, not inconsistent with the purpose of this article, as may be prescribed by the Town Manager and Town Council. It shall cooperate with the Planning Commission and all other departments of the Town requiring its aid, counsel and advice. It shall have access to all available plans, records, surveys and other information on file with any Town department, and may call upon any such department for aid, advice and assistance. It may also act as a liaison between the Town and state and federal agencies on such matters as may be authorized by the Town Manager and Town Council.
The Economic Development Commission shall make annual reports and quarterly progress reports to the Town Manager and Town Council. It may make such recommendations as it deems necessary and advisable for the best interests of the Town.