; and (2) have significant demonstrated expertise in— (A) the management and administration of a financial institution relevant to the operation of IFA; or (B) the financing, development, or operation of infrastructure projects, including in the evaluation and selection of eligible infrastructure projects based on the purposes, goals, and objectives of this Act. (d) Terms (1) In general Except as otherwise provided in this Act, each voting member of the Board of Directors shall be appointed for a term of 5 years. (2) Initial staggered terms Of the voting members first appointed to the Board of Directors— (A) the initial Chairperson and 3 of the other voting members shall each be appointed for a term of 5 years; and (B) the remaining 3 voting members shall each be appointed for a term of 2 years. (3) Date of initial nominations The initial nominations for the appointment of all voting members of the Board of Directors shall be made not later than 60 days after the date of enactment of this Act. (4) Beginning of term The term of each of the initial voting members appointed under this section shall commence immediately upon the date of appointment, except that, for purposes of calculating the term limits specified in this subsection, the initial terms shall each be construed as beginning on January 22 of the year following the date of the initial appointment. (5) Vacancies (A) In general A vacancy in the position of a voting member of the Board of Directors shall be filled by the President, by and with the advice and consent of the Senate. (B) Term A member appointed to fill a vacancy on the Board of Directors occurring before the expiration of the term for which the predecessor was appointed shall be appointed only for the remainder of that term. (e) Meetings (1) Open to the public; notice Except as provided in paragraph (3), all meetings of the Board of Directors shall be— (A) open to the public