Bill proposed to authorize creation of IDA
Del. Chris Collins, R-Winchester, introduced a bill in Richmond that was referred to a committee Thursday that would give Front Royal the authority to create an Industrial Development Authority of its own. This would be in addition to having the joint EDA with Warren County that is involved in the current embezzlement scandal.
Town Council members tossed around the idea of creating their own authority at a council meeting last month, but Town Attorney Doug Napier told them there were legal issues at hand. For one, he said the town could put its investments in the EDA at risk if it created an authority of its own. Collins’ bill would clear up any confusion about whether the town is allowed to strike out on its own and not risk losing previous investments.
This bill would allow Front Royal to operate on their own to attract business and growth within town limits. In addition to Collins’ bill, he said there are several drafts of legislation that will put new ethics guidelines in place for developmental authorities.
The bill is still in the early stages of making its way into law, but Collins anticipates the committee referring it to the House floor for a vote by the end of the month.
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