MS HB1678

Board of Supervisors of Grenada County is authorized to establish an economic and industrial development authority called the Greater Grenada Partnership composed of 5-7 trustee members appointed by the board.

Partnership is empowered to acquire, develop, and operate real property for industrial parks, business parks, and economic development projects; construct infrastructure; and lease or sell sites to businesses on agreed terms.

Partnership may borrow money through promissory notes (subject to board approval), fix fees for facility usage, employ staff, and expend funds to attract and develop businesses in aerospace, manufacturing, technology, tourism, and other industries.

Board of Supervisors may levy up to 2 mills in taxes to continue supporting the partnership and may authorize an additional 2-mill levy with proper notice and public approval procedures.

Board of Supervisors is authorized to dissolve the existing Grenada County Economic Development District and transfer its assets, liabilities, and the existing 2-mill tax levy to the new partnership.