MS HB1668

Authorizes the governing authorities of Pascagoula, Mississippi to establish community redevelopment areas within existing urban renewal areas by resolution.

Requires creation of a redevelopment trust fund for each community redevelopment area to be funded by increases in sales tax collected within the area boundaries.

Permits the city to award grants to private property owners for exterior and interior improvements that enhance appearance and functionality, with grant payments beginning 12 months after completion and not exceeding 20 years.

Allows trust fund expenditures for administrative costs, planning, property acquisition, clearance, development agreements, and grant funding as specified in an adopted community redevelopment plan.

Requires separate accounting and annual independent audits of redevelopment trust funds, with the city or urban renewal agency authorized to administer the program.