Scenic Rivers Development Alliance; authorize to create special purpose entities.
The passage of HB 1787 grants the SRDA significant authority to initiate and manage economic development projects throughout the member counties. With the ability to form nonprofit special purpose entities, the Alliance can engage in various activities such as acquiring and developing real estate, issuing bonds, and entering into contracts. This can lead to increased economic activity in the region, allowing for streamlined operations in establishing industrial sites and recreational amenities aimed at improving local economies and enhancing tourism.
House Bill 1787, termed the Scenic Rivers Development Alliance Act, amends the Local and Private Laws of 2018 to empower the Scenic Rivers Development Alliance (SRDA) to create special purpose entities. These entities can include nonprofit companies and partnerships intended to drive and support economic development, especially in areas like industrial parks and recreational facilities. The bill outlines the definitions and operational scope of the SRDA, establishing its authority to manage and govern these entities without needing separate approval from member counties.
Overall, the sentiment surrounding HB 1787 appears to be largely positive among proponents who argue that the bill facilitates crucial economic development in a coordinated manner. Supporters believe it provides a mechanism for efficient management of local resources and aims to elevate the economic profile of the participating counties. However, possible concerns may exist regarding the lack of transparency and accountability associated with the operations of special purpose entities, given their exemption from certain public records and open meetings laws.
Notable points of contention include concerns over the implications of granting such discretion to the SRDA and the special purpose entities it creates. Critics may argue that the bill removes layers of local government oversight from economic initiatives and could lead to decisions made without community context or input. Furthermore, without the same legal protections afforded to governmental entities, questions may arise regarding the accountability mechanisms and legal recourse available to citizens affected by decisions made by these newly formed entities.