Calendar

Wednesday, August 10, 2022

The Corporation is organized exclusively for the purposes of benefiting and accomplishing public purposes of, and to act on behalf of, the City, by promoting, assisting and enhancing economic and industrial development activities and may issue bonds, and expend the proceeds of any sales and use tax levied for the benefit of the Corporation for the promotion and development of commercial, industrial and manufacturing enterprises to promote and encourage employment and the public welfare and to promote or develop new or expanded business enterprises, including public facilities. The RDC oversees the expenditure of sales tax collected for economic development purposes in accordance with State law. Established through a public referendum in 1995, the RDC is allocated one-half cent of the City’s sales tax proceeds to invest in projects that promote or develop new or expanding businesses, create jobs, and/or improve the quality of life in the community.