Delaware Code Title 7 Sec. 4736 – Powers and duties of executive director; deputy executive director
(a) An executive director shall be selected by a majority vote of the Board. The Board shall require executive director candidates to undergo a credit and criminal history background check. The executive director shall exercise such powers and duties relating to the Corporation as may be delegated to him or her by the Board. Compensation of the executive director shall be established by the Board, and the executive director shall serve at the pleasure of the Board.
Terms Used In Delaware Code Title 7 Sec. 4736
- Board: means the Board of Directors of the Fort DuPont Redevelopment and Preservation Corporation. See Delaware Code Title 7 Sec. 4732
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Corporation: means the Fort DuPont Redevelopment and Preservation Corporation to be established pursuant to § 4733 of this title. See Delaware Code Title 7 Sec. 4732
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Fort DuPont: means such real property, as well as such facilities, personal property, buildings, and fixtures located thereon, owned by the State along the Delaware River bounded by the Chesapeake and Delaware Canal on the south, and a branch canal, currently separating it from Delaware City, on the north, which includes the Fort DuPont State Park, the Governor Bacon Health Center, and surrounding lands, formerly tax parcel numbers 1202300020, 1202300021, 1203000001, and 1203000002. See Delaware Code Title 7 Sec. 4732
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Redevelopment plan: means the draft master plan for the redevelopment of the Fort DuPont complex dated October 2013, as may be amended from time to time by the Board, which is intended to guide the redevelopment of the Fort DuPont Complex. See Delaware Code Title 7 Sec. 4732
(b) The executive director shall hire a deputy executive director, and may hire such additional deputies and assistants as are authorized by the Board. All hires must be approved by majority vote of the Board prior to assuming a position with the Corporation.
(c) The executive director or any employee of the Corporation may not receive any gift valued in excess of $200 from the Corporation, the Board, or any member of the Board.
(d) The executive director or any employee of the Corporation may rent, lease, or purchase property on the Fort Dupont Complex but only for fair market value and through the Complex’s standard rental or purchase process. Housing on the Fort DuPont Complex may not be included in an employee’s compensation package.
(e) The executive director shall provide an annual written report of the Corporation’s activities to the Chair of the Board.
(f) The executive director shall provide an annual presentation to the City Council of Delaware City, setting forth any pending or approved changes to the Redevelopment Plan and a summary of development progress. The presentation shall be made in a public forum and time shall be reserved for public comment.
79 Del. Laws, c. 361, § ?1; 70 Del. Laws, c. 186, § ?1; 83 Del. Laws, c. 302, § 1;