(a) The Corporation shall prepare and submit an annual report of its activities during the previous year to the Governor and the Chair and Co-Chair of the Capital Improvement Committee of the General Assembly by January 1 of each year. Such annual report shall include all of the following:
(1) A complete list and explanation of all land it has acquired within the previous 12 months.
(2) A complete list and explanation of all development projects that may impact wetlands.
(3) An enumeration of all projects and services provided by homeowners association fees, and explanation of any duplication with services provided by Delaware City.
(b) The Corporation shall prepare and submit an annual audit which shall be provided to the Governor and the Chair and Co-Chair of the Capital Improvement Committee of the General Assembly by January 1 of each year.