State law gives the RDA certain abilities or tools, which include:
- Creation of a Reinvestment Project Area—a geographic area where agreements are made with the City, County, and School district to “reinvest” property tax revenue to build infrastructure, incentivize new business, or otherwise improve the area economically. The RDA has two active project areas: one at the Peterson/Ninigret Industrial depot and another at Founders Point, the retail development near 1000 North and Main Street;
- Purchase, sale, or management of property;
- Issue bonds to finance improvements in any project area;
- Pay impact or other fees imposed by a community in connection with land development;
For questions or inquiries about RDA reinvestment areas or property owned by the RDA contact Jared Stewart at firstname.lastname@example.org or 435.843.2169.