Regional Economic Development Act

The Regional Economic Development Act authorizes local governments to join together in regional alliances that pursue economic development projects across jurisdictional boundaries, exercising jointly the powers each holds separately. It equips those alliances with financing and project-development tools — bond issuance, eminent domain, options to purchase real property, and preliminary engineering and environmental studies — and requires participating governments to enter written agreements containing prescribed terms, subject to official approval and filing. The act also provides for rulemaking, certificates of public convenience and necessity, and intergovernmental coordination, while framing these powers as supplemental to, rather than a replacement for, authority local governments already possess.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.