The purpose of the Economic Development Advisory Committee is to serve in an advisory capacity and shall, upon request of the Township Council, provide information, advice and recommendations relating to the promotion of Economic Development in the Township of Parsippany-Troy Hills. The Committee shall consist of 11 members, five of whom shall be appointed by the Mayor, and six of whom shall be appointed by the Council. Members shall be Township residents who have knowledge of or have demonstrated an interest in the economic well-being of the Township. Each member shall be chosen with a special view to qualifications and fitness for service on the Committee. Members shall serve without compensation.