Act 690 allows cities and counties to establish an Authority to develop industrial sites and acquire, equip, construct, maintain and operate regional freight transportation facilities.
Key Features of Act 690:
- Regional Authorities may enter into contracts and acquire, own, lease, sell real and mixed property.
- Apply for, receive and use grants-in-aid, donations and contributions from any source and may raise funds by issuance of revenue bonds.
- Authorized to enforce rules and statutes relating to its facilities that includes minimum building codes.
- May establish and operate a foreign trade or sub-trade zone.
- Can create and operate an improvement district.
- Can levy and collect a tax or fee on users of Authority’s facilities.
- A regional approach to further economic growth.
- Effective tool to enhance existing freight facilities and industrial sites and to develop new infrastructure.
- Method to form public/private partnerships to improve freight transportation modes.
- Allows cities and counties to combine funding resources for projects.
Download the PDF of Act 690