A.There may be created in each local government a public body to be known as the "metropolitan redevelopment agency". The metropolitan redevelopment agency shall not transact any business or exercise any powers until the local government has adopted an ordinance creating a metropolitan redevelopment agency and has specified the powers and duties of the agency.
B.When the metropolitan redevelopment agency has been authorized to transact business and exercise powers, the mayor or manager of the local government, with the advice and consent of the local government, shall appoint a board of commissioners of the redevelopment agency, which shall consist of five commissioners. The commissioners shall be initially appointed to serve staggered terms as follows from the date of their appointment:
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A. There may be created in each local government a public body to be known as the "metropolitan redevelopment agency". The metropolitan redevelopment agency shall not transact any business or exercise any powers until the local government has adopted an ordinance creating a metropolitan redevelopment agency and has specified the powers and duties of the agency. B. When the metropolitan redevelopment agency has been authorized to transact business and exercise powers, the mayor or manager of the local government, with the advice and consent of the local government, shall appoint a board of commissioners of the redevelopment agency, which shall consist of five commissioners. The commissioners shall be initially appointed to serve staggered terms as follows from the date of their appointment: (1) two members for three-year terms; (2) two members for two-year terms; and (3) one member for a one-year term. Thereafter, commissioners shall be appointed for terms of five years each. C. A commissioner shall receive no compensation for services but shall be entitled to the necessary expenses, including traveling expenses, incurred in the discharge of the commissioner's duties. Each commissioner shall hold office until the commissioner's successor has been appointed and qualified. A certificate of the appointment or reappointment of any commissioner shall be filed with the clerk of the local government, and the certificate shall be conclusive evidence of the due and proper appointment of the commissioner. A commissioner may be removed from office at any time by the mayor or manager of the local government. D. The powers of a metropolitan redevelopment agency shall be exercised by the commissioners. A majority of the appointed commissioners constitutes a quorum for the purpose of conducting business and exercising the powers of the agency and for all other purposes. Action may be taken by the agency upon a vote of a majority of the commissioners present at a lawful meeting, unless the bylaws require a larger number. Any person may be appointed as commissioner if the person resides within the area of operation of the agency, which shall be coterminous with the area of operation of the local government, and is otherwise eligible for appointment under the Redevelopment Law [3-60A-5 to 3-60A-18 NMSA 1978]. E. The mayor or manager of the local government shall designate a chair and vice chair from among the commissioners. The commission may employ and determine the qualifications, duties and compensation of an executive director, technical experts and other agents and employees, permanent and temporary, as the metropolitan redevelopment agency may require. For legal services as the agency may require, the commission may employ or retain for the agency legal counsel and a legal staff. A metropolitan redevelopment agency shall file annually with the local government a report of its activities for the preceding fiscal year, which report shall include a complete financial statement setting forth its assets, liabilities, income and operating expenses as of the end of the fiscal year.