Section 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.