MS HB1751

Authorizes the City of Madison and Madison Square Redevelopment Authority to transfer properties between each other with no consideration or on terms deemed adequate by the respective governing boards.

Empowers the city and redevelopment authority to sell, lease, sublease, exchange, or otherwise dispose of properties in the redevelopment area for commercial, residential, municipal, and community development purposes without requiring appraisals, public bids, or other procurement requirements.

Allows lease agreements for terms up to 99 years and authorizes development contracts, easements, and related legal instruments for project development and associated facilities.

Authorizes the city to issue general obligation bonds, revenue bonds, tax increment financing bonds, or special assessment bonds to fund project costs and permits acceptance of grants and donations from public or private sources.

Defines the redevelopment area as seven specific tracts totaling approximately 179 acres located within Madison city limits, including properties along Main Street, Montgomery Street, and South Street extension.