Responsibilities
The Community Development Authority has the statutory authority to complete items that the Economic Development Commission is not involved in. For example:
- Acquire property through contact or condemnation.
- Issue double tax exempt revenue bond debt with approval of the Village Board.
- Negotiate development agreements with property owners or developers.
- Building or contract for the construction of housing the same as Housing Authority.
- Implement a Board approved redevelopment and blight elimination plan.
- Issue lease revenue bonds (LRBs).
The Community Development Authority consists of 7 members. Two
Board of Trustees and 5 citizen representatives make up the voting body. The Administrator serves as an Executive Director, non-voting member on the committee.