Title
An Ordinance creating and establishing, pursuant to KRS 91.750, et seq., the "Downtown Lexington Management District" and providing for its boundaries; a fifteen member Board, the requirements and appointing process for Board Members, and their term limits; the powers of the Board; a Fiscal Year commencing on July 1st, the undertaking of economic improvements by the Board; a budget and audit process; an affirmative action plan; public information; an assessment not to exceed $.10 of $100 of the assessed property value for each assessed property within the District; a contesting and appeal process; liens; an annual report to property owners; ethical requirements on Board Members; termination of the District in no later than 5 years; Board guidelines; contracting requirements; management, marketing, and administration; reporting requirements; an advisory council to the Board; severability; all effective upon date of passage with the Management District assessment of properties within the District to take place no earlier than allowable by law. [Council Office, Maynard] PUBLIC HEARING APRIL 30, 2015
Body
contract and be contracted with. The affairs of the District shall be managed and controlled by a Board of Directors composed of not more than fifteen (15) members, DRAFT 04-08-15 2
who shall be appointed for four (4) year terms, except as otherwise provided in this Ordinance for the initial appointees, and who shall be eligible for reappointment to one (1) additional four (4) year term (referred to hereinafter as the "Board"). At least ten (10) of the total number of Board members shall either be property owners or tenants within the District or representatives of property owners within the District as further provided by statute and below. An ex officio member shall not count towards the above requirement even if he or she owns property within the District. Members of the Board shall be appointed as follows: (1) The Board of the Downtown Lexington ...
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