Industrial development boards can skip public hearings under proposed bill
A proposed bill would allow industrial development boards to skip public hearings on new development projects when they "amend" their plans. This also means they would not have to publish two-week advance notice before voting on the amended plans. Industrial development boards are used to subsidize private development projects by capturing property and sales taxes to help pay for the project, usually through tax increment financing zones or payment-in-lieu of taxes agreements. The elimination of public hearings is part of a larger bill that appears designed to spur new housing by expanding the definition of what types of projects can be funded through the capture of property and sales taxes.
