(a) For the purposes of carrying out the objectives of this chapter, as set forth in Section 271.01, and the objectives of Act 197 of the Public Acts of 1975, as amended, a Downtown Development Authority is hereby established, to be known as the Lincoln Park Downtown Development Authority.
(b) The Authority shall be under the supervision and control of a Board consisting of the Mayor and eight to twelve members appointed by the Mayor subject to the approval of the City Council. A majority of the members shall be persons having an interest in property located in the downtown district. Of the members first appointed, one quarter shall be appointed for one year, one quarter for two years, one quarter for three years, and one quarter for four years. Thereafter, a member shall serve for a term of four years. An appointment to fill a vacancy shall be made by the Mayor for an unexpired term only and shall be subject to the approval of the City Council. Members of the Board shall serve without compensation, but shall be reimbursed for actual and necessary expenses.
(c) The Chairperson of the Board shall be elected by the Board.
(d) Before assuming the duties of office, each member shall qualify by taking and subscribing to the constitutional oath of office.
(e) Meetings of the Board shall be conducted in accordance with the Open Meetings Act.
The Board shall adopt bylaws governing its procedure, subject to the approval of the City Council.
(Res. 95-155. Passed 3-13-95.)