§ 489-bbb. Industrial and commercial incentive board. Any city of one
million or more persons may, by local law, establish an industrial and
commercial incentive board to consist of the deputy mayor for, economic
policy and development, who shall be chairman of the board, the
commissioner of finance, the chairman of the city planning commission
and the director of management and budget, each of whom shall have the
power to designate an alternate to represent him at board meetings with
all the rights and powers, including the right to vote, reserved to all
board members, provided that such designation be in writing to the
chairman of the board, and three other members to be appointed by the
mayor. In addition, the borough president of each borough or his
designated representative, shall be a member of such board for the
purpose of taking action with respect to property located in his
borough. The members of any board established pursuant to this section
who shall be agents, officers, or employees of said city shall serve
without compensation but shall be reimbursed for expenses necessarily
incurred in the performance of their duties. The members of any board
established pursuant to this section who are not agents, officers, or
employees of said city shall receive as compensation for their services
one hundred dollars per diem, provided, however, that the total
compensation paid to any such member shall not exceed twelve hundred
dollars for any calendar year. Four members of any such board shall
constitute a quorum.