The purpose of this statute is to further the common interests of the Town of Mamaroneck and the Village of Larchmont. That interest is to protect the local coastal zone and 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. This statute requires the Commission to 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 the municipalities.