MS HB1669

Authorizes the City of Gautier to establish community redevelopment areas within existing urban renewal areas and requires creation of redevelopment trust funds for each area

Trust fund monies may be used for administrative expenses, redevelopment planning, property acquisition, site clearance and preparation, developer incentives, and grants to private property owners

Private property owners within community redevelopment areas may apply for grants to fund interior and exterior improvements that enhance property appearance and functionality, with grant payments beginning 12 months after project completion and extending up to 20 years

Sales tax increases collected within community redevelopment area boundaries above the baseline amount (certified by Department of Revenue) must be deposited into the redevelopment trust fund

Grants cannot be used for furniture, fixtures, equipment, general maintenance, or to incentivize relocation of tenants already in the primary market area