MS SB2922

Authorizes the City of Gautier governing authorities to establish community redevelopment areas within existing urban renewal areas by resolution.

Requires the city to create a redevelopment trust fund for each community redevelopment area and deposit increased sales tax revenues from the area into the fund.

Permits private property owners in the redevelopment area to apply for grants from the trust fund to pay for exterior and interior improvements that improve property appearance and functionality.

Establishes that grants are paid over time (up to 20 years after improvement completion) from the trust fund, beginning 12 months after improvements are finished, and limited to verified costs or amounts agreed in redevelopment agreements.

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