Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

SECTION 1. Chapter 327 of the acts of 1979 is hereby amended by striking out section 4 and inserting in place thereof the following section:-

Section 4. There is hereby established a Community Development Authority of the city, herein referred to as the authority, which shall be an operating agency and an urban renewal agency within the meaning of chapter 121B of the General Laws, an economic development and industrial corporation within the meaning of chapter 121C of the General Laws and a housing authority within the meaning of said chapter 121B. The powers of the authority under said chapters 121B and 121C shall be exercised in conformity with the restrictions contained in this act.

The authority shall be managed, controlled and governed by a board consisting of 7 members, the chairman of which shall be the mayor, 1 member who shall be appointed by the secretary of communities and development and 5 members who shall be appointed by the mayor with the approval of the city council. One member appointed by the mayor shall be a banker who is a resident of the city of Marlborough, the second shall be a realtor who is a resident of the city of Marlborough. Both shall be appointed for an initial term of 2 and 3 years, respectively, and thereafter as the term of a member expires, his successor shall be appointed for a term of 3 years. The remaining 3 members shall serve initial terms of 1, 2 and 3 years, respectively, and thereafter as the term of a member expires, his successor shall be appointed for a term of 3 years. The member appointed by the secretary of communities and development shall serve for a term of 5 years. After the qualification of such members, the city clerk shall forthwith file a certificate of their appointments with the department of community affairs and a duplicate thereof in the office of the state secretary. Thereupon the state secretary shall issue to the authority a certificate of organization as provided in said chapter 121B.

The chairman of the authority shall not receive additional compensation and the authority shall make use of the services of the department for staff and administrative functions and the department may charge the authority for such services an amount agreed to by the department and the authority with the approval of the mayor.

SECTION 2. Section 1 shall not affect the terms of the current members of the Community Development Authority of the city of Marlborough as of the effective date of this act.