(1) The commission shall consist of seven members. Three members shall be nominated by the mayor and appointed by the council. Four members shall be selected by the president of the University of Oregon, who shall submit their names and qualifications to the mayor for appointment.

(2) All members shall be selected on the basis of their prior knowledge of the community as well as prior training or experience with respect to the planning, development, financing and marketing of public improvements, commercial property, industrial property, or similar developments, or with respect to planning large-scale science and research programs. It is not the intent that there be representatives of the city or University of Oregon on the commission. The intent is to have highly qualified people serve as expert advisors to the University of Oregon president and the city of Eugene.

(3) In order to insure that the commission is composed of the most qualified members available and willing to serve, the requirement of section 2.013(6) of this code that members reside within the city’s urban growth boundary is specifically waived, and members need not reside within the city’s urban growth boundary at the time of their appointment or during their term of office.

(4) For the term of office to commence January 1, 1988, four members shall be appointed for a two year term and three members shall be appointed for a one year term. Thereafter, each member shall serve for a term of two years from the date of his or her appointment.

(5) Vacancies in office shall be filled in the same manner as original appointments.

(6) No officer or employee of the city of Eugene, the University of Oregon, or the State Board of Higher Education may serve on the commission.