What or where (an other municipality/county/etc.) is your local law based upon? Why twelve years, and not eight or ten?
I strongly disagree with Section "E" of your proposal and find it a reason some of your colleagues, especially the longer term ones, will object to and not vote for. "Special interests" can mean many things, and you are inferring something that does not belong in statute.
Clean it up and remove the positioning.
But, it is better that what exists now.....