Labour peer Lord Adonis, Cities Minister Greg Clarke and Nottingham City Councillor Graham Chapman will meet to discuss the key points in an open debate this afternoon.
The Derbyshire and Nottinghamshire Chamber of Commerce (DNCC) will host the event, as both supporters and critics of the Mayoral plans will present their arguments to local business leaders, who will have the opportunity to question the proposals.
The Coalition Government plans to create 12 directly elected mayors in 12 English cities outside of London. A referendum on the issue will be held on 3 May.
Businesses can book their place at this free event online here.