A. Consistent with RCW 36.73.020(3), the governing board of the Vancouver Transportation Benefit District shall be the Vancouver City Council acting in an ex officio and independent capacity. The board shall have the authority to exercise the statutory powers set forth in chapter 36.73 RCW.

B. The board shall develop a material change policy to address major plan changes that affect project delivery or the ability to finance the plan, pursuant to the requirements set forth in RCW 36.73.160(1). The policy must at least address material changes to cost, scope and schedule, the level of change that will require governing body involvement and how the governing body will address those changes. At a minimum, if the District funding participation in a transportation improvement exceeds its original funding participation by more than twenty percent (20%) as identified in the District’s original plan, a public hearing shall be held to solicit public comment regarding how the funding participation change should be resolved.

C. The Mayor shall serve as the chair of the Transportation Benefit District Board and shall preside over all meetings of the Board. Meetings of the board shall be governed by the procedural rules applicable to meetings of the City Council, as these rules may be amended by the Council or the Board from time to time. Board actions shall be taken in the same manner and follow the same procedure as for the adoption of City Council resolutions.

D. Annual Report to the Public. The board shall issue an annual report, pursuant to the requirements of RCW 36.73.160(2). (Ord. M-4139 § 2, 2015)