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GA HB1129
Bill
Status
Passed
4/26/2016
Primary Sponsor
Patricia Gardner
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AI Summary
- Continues the McPherson Implementing Local Redevelopment Authority, originally created in 2008, as a body corporate with perpetual existence to manage the redevelopment of the former Fort McPherson property in Atlanta, Georgia
- Authority board consists of 11-15 members appointed by the Governor from nominees submitted by local governing authorities, with a majority from the City of Atlanta, plus non-voting ex officio members from state agencies and the legislature
- Grants the authority broad powers to acquire, construct, lease, and manage redevelopment projects including education, housing, commerce, health care, parks, transportation, and industrial facilities, with contract terms up to 99 years and intergovernmental lease agreements up to 50 years
- Authorizes the authority to issue negotiable revenue bonds (maturing up to 40 years) exempt from state taxation, payable solely from project revenues and not constituting debt of the state or any local government
- Provides the authority with tort immunity equivalent to the state, exemption from property taxes and assessments, and designates it as the exclusive entity for any economic development conveyance related to Fort McPherson
Legislative Description
"McPherson Implementing Local Redevelopment Authority Act"; enact
Last Action
Effective Date
4/26/2016
Full Bill Text
No bill text available