City of College Park

PURPOSE, POWERS, AND OVERVIEW

OF THE CITY OF COLLEGE PARK

BUSINESS INDUSTRIAL DEVELOPMENT AUTHORITY (BIDA)

Purpose:

The Authority was created by an Act of the General Assembly in 1980 to: 

Acquire, construct and operate public projects, buildings, and facilities….with the right to lease or sell any such real property;

Attain development and promote general welfare, trade, commerce, industry, and employment opportunities;

Ascertain and designate blighted areas and address these areas through tools like acquisition and disposition.

Powers:

Authority to acquire, develop, lease, sell, and dispose of real and personal property, to contract for and develop projects necessary or convenient to accomplish BIDA’s corporate purposes. To accept loans and borrow money and issue negotiable revenue bonds.

Overview:

The College Park Business and Industrial Development Authority, also know as the Clearly College Park Development Authority, was established primarily as a financing mechanism to further the community’s economic development initiatives. The tools available to this end include the disposition of real estate, public-private financing (bonds, payments-in-lieu-of taxes) and other incentives. Seven members comprise the Board – the Mayor and members appointed by Mayor and Council of College Park.

Tracey Wyatt BIDA Board Chair Ward III	Subrenia Willis BIDA Board Vice Chair At-Large

Dr. Leithea Williams BIDA Board Secretary-Treasurer Ward I	Lisa Parker  BIDA Member  Ward II	Selissa Jefferson BIDA Member Ward IV

Bianca Motley Broom Mayor	Roderick Gay Mayor Pro-Tem