N.Y. Real Property Tax Law § 489-bbb: Industrial and commercial incentive board

§ 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.