What Milton's Development Authority can and cannot do, staff tells new board
City staff told Milton's new Development Authority it can issue revenue bonds, provide tax incentives and acquire or lease property for economic development, but it cannot levy taxes, pass laws or exercise eminent domain; members were also warned about conflicts of interest and confidentiality rules.
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Staff told the inaugural meeting that the Development Authority has a broad toolkit for economic development, including issuing revenue bonds, acting as a conduit for financing, offering tax abatements and acquiring or developing property for lease. "It can issue revenue bonds, um and it can provide tax incentives uh through transactions, through tax abatements," attorney Jeff Strickland said, listing examples of the Authority's powers.
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