Bill > HB548

This bill restates and updates the law governing the Albany-Dougherty Inner City Authority, a public body corporate and politic created to serve public purposes in Albany and Dougherty County, Georgia. The bill comprehensively defines the authority's structure, powers, and operations, establishing it as an instrumentality of the state with broad capabilities to finance, develop, and manage projects aimed at urban redevelopment and community improvement. The authority will consist of seven appointed members plus the mayor as a non-voting ex officio member, with members serving two-year terms and being eligible for reappointment. The bill grants the authority extensive powers, including the ability to acquire and sell property, issue revenue bonds, enter into contracts, accept grants, construct and manage projects, and work with both public and private entities to achieve its goals. Importantly, the authority's revenue bonds will not constitute a direct debt of the city or county, and the authority will have significant tax exemptions and tort immunity. The bill also ensures that the authority can continue its existing projects and that any previously issued bonds will not be adversely affected by the new legislation. The primary purpose is to provide a flexible, robust legal framework for urban redevelopment and community enhancement efforts in the Albany-Dougherty area.

Government Affairs

https://www.legis.ga.gov/legislation/70585