The purpose of this statute is to establish the Coastal Zone Management Commission to monitor and coordinate the implementation of the Local Waterfront Revitalization Program of the Town of Mamaroneck and the Village of Larchmont. According to this statute, the Commission must consist of 11 members (five residents of Larchmont appointed by the Village of Larchmont, five residents of the unincorporated area of Mamaroneck appointed by the Town of Mamaroneck, and 1 chair appointed by both municipalities). Members must serve without compensation. The costs of carrying out the duties of the commission must be borne equally by both municipalities.