[Adopted 6-19-2000 by Ord. No. 21.51.00]
[1]
Editor's Note: Former Part 25, Department of Economic Development, adopted 8-3-1987, was repealed 9-24-1998 by L.L. No. 3-1998. For current provisions, see Part 24, Department of Development and Planning.
A. 
The City of Albany Industrial Development Agency, as created by § 903-a of the General Municipal Law, shall consist of seven members. For the initial appointment of members, two members shall be appointed for one-year terms, two members shall be appointed for two-year terms and three members shall be appointed for three-year terms, in order to create staggered terms of office of board members. Thereafter, appointments shall be for three-year terms. Members shall be residents of the City of Albany and whenever possible shall have a general background or expertise in industry, business, economic development, urban planning or banking, and possess a commitment to the revitalization of the City. Such members may include representatives of local government, school boards or organized labor. Members shall serve without compensation for their services but shall be entitled to the necessary expenses incurred in the discharge of their duties.
B. 
When a vacancy occurs on the Industrial Development Agency during a term of office or through expiration of term, the Common Council shall appoint the member by resolution.
C. 
The Industrial Development Agency shall submit to the Common Council prior notice of meetings, agendas and minutes of meetings and an annual report of agency activities. The Industrial Development Agency shall further file with the Clerk to the Common Council applications and other agenda items simultaneously with their transmission to members of the Agency.
[Amended 8-20-2007 by Ord. No. 63.61.07]
D. 
The City of Albany Industrial Development Agency shall in all other respects be governed by Article 18-A of the General Municipal Law.