What is the Redevelopment Agency (RDA)?
The Redevelopment Agency of Murray City is an agency authorized under State law Title 17C known as the Limited Purpose Local Government Entities-Community Development and Renewal Agencies.
The purpose of this agency is to facilitate redevelopment efforts in a designated community and to administer projects/programs to assist in economic development, community development and renewing urban areas.
The Redevelopment Agency of Murray City assists in redevelopment efforts by encouraging private and public investment in previously developed areas that are underutilized or blighted.
The Agency also promotes economic development by working with businesses to increase the jobs available in the community and the state as a whole.
Housing development is also a priority and the Agency also works to increase the amount and variety of affordable housing within the community.
The agency has authority to establish redevelopment areas and after public hearings and adoption of a plan, they may facilitate redevelopment in the following manner (State Law 17C-1-102):
· enter into contracts generally;
· buy, obtain an option upon, or otherwise acquire any interest in real or personal property;
· sell, convey, grant, dispose of by gift, or otherwise dispose of any interest in real or personal property;
· enter into a lease agreement on real or personal property, either as lessee or lessor;
· receive and administer tax increment;
· if disposing of or leasing land, retain controls or establish restrictions and covenants running with the land consistent with the project area plan;
· accept financial or other assistance from any public or private source for the agency's activities, powers, and duties, and expend any funds so received for any of the purposes allowed under state law
· borrow money or accept financial or other assistance from the federal government, a public entity, or any other source for any of the purposes allowed under state law and comply with any conditions of the loan or assistance;
· issue bonds to finance the undertaking of any urban renewal, economic development, or community development or for any of the agency's other purposes;
· transact other business and exercise all other powers provided for in this
