(a) No more than 15 districts shall be designated at any 1 time. Designation of the first 3 districts shall include 1 district in each county.
(b) Districts shall be designated for an initial 10-year period. Upon recommendation of the Committee, the Governor may renew districts for up to 2 5-year renewal periods. Recommendations for renewals shall be based on the performance of district responsibilities by the municipality (or county in the case of an unincorporated area); the continued need for such a district; and its effectiveness in creating capital investment, increasing population, creating jobs, improving housing stock, providing enhanced retail and entertainment opportunities, and otherwise improving the quality of life within such district.
(c) Any municipality (or county in the case of an unincorporated area) having a district within its borders shall be responsible for providing the local incentives specified in its application, providing timely submission of reports and evaluations as required by rule or regulation, implementing an active local development district program within the context of overall economic and community development efforts, and fulfilling such other responsibilities as may be required by law, rule, or regulation in connection with such district.
(d) Each district shall be required to submit regular reports and information to the Office as may be necessary to evaluate such district's effectiveness and compliance with this section.