Commission on Local Government reviews proposed Covington–Alleghany growth‑sharing agreement
The Commission on Local Government held a March 13, 2017 public hearing in Covington to review a voluntary economic growth‑sharing agreement that would let the City of Covington and Alleghany County invest jointly through their Industrial Development Authority and share specified tax increments; local officials voiced support and the Commission entered an executive session to discuss details.
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The Commission on Local Government on March 13, 2017 held a public hearing in Covington to review a proposed voluntary economic growth‑sharing agreement between the City of Covington and Alleghany County, Commission Chair Diane M. Linderman said. The agreement would allow the two localities to make joint investments through their joint Industrial Development Authority and share revenue from those joint projects.
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