Georgetown Business Improvement

“The organization has the following classes of members:class a members are all commercial tenants within the bid boundaries,excluding ground leasees who own improvements on any commercial non-exemptproperty within the bid boundaries. Each member shall have one vote.class b members are all owners, and exempt owners who elect to becomemembers under section 21 of the bid act, and ground lessees who ownimprovements on any commercial non-exempt property in the bid boundaries.each member shall be entitled to votes equal to the greater of 1 or thequotient obtained by dividing by 500.”

“Members elect the governing body each year. Each class a member has onevote. Each class b member receives the greater of one vote or the quotientobtained by dividing by 500 the amount of bid tax payable by the owner ofthe property of the then applicable fiscal year.the chair of the board of directors appoints a nominating committee chair.the nominating committee chair appoints additional members of thenominating committee. At least one person from each class of membershipmust be on the nominating committee. Individuals are nominated for boardpositions either by the nominating committee or by a member petition.directors are elected by their respective member class.”

“The organization must receive an affirmative vote of at least 67% of themembership in order to borrow more than 10% of the total assessment of bidtaxes for any fiscal year”

“The form is reviewed and approved by the executive committee. A copy is then provided to all members of the board of directors. Board members are given a period of time to review the form 990 and respond with anyquestions as needed. Once the period of review has ended, the chair signsand the return is efiled”

“Officers and directors are required to sign an acknowledgement each yearthat they have received the conflict of interest policy. Each officer anddirector is asked to notify the board of any conflicts of interest.officers and directors abstain from any approval of salaries or other formsof compensation for themselves.”

“Compensation of the ceo and key employees is evaluated on an annual basisby the board of directors executive committee. Compensation is based uponthe level of skill required for the position, comparison of compensation tosimilar positions in the non-profit industry, and an evaluation of theindividuals achievements during the year. Determination of thecompensation is documented by the executive committee. Officers anddirectors of the organization are not compensated.”

“Compensation of the ceo and key employees is evaluated on an annual basisby the board of directors executive committee. Compensation is based uponthe level of skill required for the position, comparison of compensation tosimilar positions in the non-profit industry, and an evaluation of theindividuals achievements during the year. Determination of thecompensation is documented by the executive committee. Officers anddirectors of the organization are not compensated”

“The organization makes the following documents available to the public asthey are requested:exempt organization registration statementfederal form 990conflict of interest policyaudited financial statements”

“The organization makes the following documents available to the public asthey are requested:exempt organization registration statementfederal form 990conflict of interest policyaudited financial statements”