(A) All operations of the Land Bank shall be governed by a Board of Directors as provided herein.
(B) Number of Board Members. The Board of Directors shall consist of seven Directors.
(C) Method of appointment. Appointment of the Directors shall be as follows:
(1) Four representatives appointed by the Chief Executive Officer of the city;
(2) One representative appointed by the Democratic members of the Board of Aldermen;
(3) One representative appointed by the Republican members of the Board of Aldermen;
(4) One representative appointed by the agreement of the Democratic members of the Board of Aldermen and the Republican members of the Board of Alderman.
(D) Initial Board of Directors. The initial Directors shall be appointed by the incorporator and shall be as listed in the ordinance passed 1-10-2022:
(E) Terms of Board Members. The initial Board of Directors shall serve three year terms. Thereafter, the Board of Directors shall be a staggered board, divided into three groups; there shall be three directorships with three year terms; three directorships with two year terms and one directorship with a one year term. Each director shall hold office until the expiration of his or her term, or until his or her successor has been appointed and has qualified, whichever is later.
(F) Qualifications. To the greatest extent possible, directors shall include persons who work in the city, are residents of the city, or who work for an organization that has a strong presence in the city. All members appointed to the Board shall be persons who have demonstrated special interest, experience or education in housing, land use or urban planning, real estate, community development, finance or related areas. A director may be an employee of the city, but no director shall also simultaneously be an elected official or public officer. For purposes of this section, “public officer” shall mean a person who is elected to a municipal office.
(G) Removal. A director may be removed from office at any time by the appointing authority that appointed such director.
(H) Vacancies. Any vacancy in the Board of Directors arising at any time and from any cause, may be filled for the unexpired term by the appointing authority that appointed such director. Each director so appointed shall hold office until the expiration of the unexpired term of his or her predecessor, or until his or her successor is appointed, whichever is later.
(I) Compensation. Directors shall serve without compensation.
(J) Officers. The Board of Directors shall annually elect by a majority vote of the Directors; a chairperson, vice chairperson, secretary, treasurer and such other officers as the Board may determine. The officers shall be members of the Board of Directors. The meetings of the Board of Directors shall be open to the public except as may be permitted to be closed or held in executive session pursuant to Connecticut’s Freedom of Information Act, Title 1, Chapter 14 of the Connecticut General Statutes as the same may be amended from time to time.
(K) Meetings of the Board. Regular meetings of the Board of Directors shall be held in accordance with a schedule adopted by the Board. Special meetings of the Board of Directors may be called by or at the request of the Chairperson or by a petition of a majority of the total membership of the Board.
(L) Quorum. A majority of the total membership of the Board of Directors shall be required to constitute a quorum for the transaction of business. Any one or more director(s) may participate in any meeting of the Board of Directors through the use of telephone or similar communications equipment, provided each director at the meeting can hear each other director participating in the meeting. Except as otherwise provided by the Land Bank Act, this chapter, the Land Bank Authority bylaws, or by law, the act of a majority of the Directors present at a meeting at which a quorum is present at the time shall be the act of the Board of Directors.
(Ord. passed 1-10-2022)