Bill > SB4

This bill modifies the West North Avenue Development Authority (the Authority) in Baltimore City by making several key changes. The bill extends the Authority's operational period from September 30, 2026, to September 30, 2029, and clarifies its administrative structure and powers. The Authority is established as a body politic and corporate, functioning as a state instrumentality with the purpose of revitalizing communities along the West North Avenue Corridor. The board of directors will now include 17 members, with specific representation from state agencies, local government, educational institutions, and community organizations, including two resident members representing neighborhoods east and west of North Fulton Avenue. The bill expands the Authority's powers to include creating economic development strategies, acquiring and managing properties, making grants, entering contracts, and serving as a coordination center for development opportunities. Notably, the bill mandates that beginning in fiscal year 2028, the Authority must become self-sustaining and requires the Authority to report on its progress toward financial independence by January 1, 2027. The bill also establishes a special, non-lapsing West North Avenue Development Authority Fund to support the organization's administrative expenses and creates tax exemptions for the Authority's development projects, with some exceptions for properties sold or leased to private entities.