(a) The board of directors of the Columbia Special Business District shall have the responsibility and be required to:

    (1)    Make recommendations to the city council as to public improvements within the Columbia Special Business District which will be funded by additional revenues collected within the district.

    (2)    Make recommendations to the city council on the use of additional revenues derived from any special tax to be imposed within the Columbia Special Business District pursuant to this division, provided that the use of such revenue shall be referred to the board for its review and recommendation.

    (3)    Advise and assist the council on such other matters specifically relating to the Columbia Special Business District on which the council may seek recommendation.

    (b) The board of directors of the Columbia Special Business District shall make an annual report to the city council in March of each year, which shall include the board's recommendation on the special tax levy to be imposed upon the property within the boundaries of the district for the coming year and recommendations on any public improvement to be constructed within the Columbia Special Business District which should be included within the capital improvements program for the subsequent fiscal year.

    (c) The board shall make such other reports to the city council as the council may from time to time request or the commission may deem advisable.