Industrial Development Board
Purpose:
The purpose of the IDB/EAB The new IDB/EAB is to serves as a citizen advisory capacity to the City Council and to execute Industrial Development Corporation functions and special powers as specified by under the
Tennessee Code Annotated (
T.C.A.). As a municipal Industrial Development Board, the IDB is as prescribed by the Industrial Development Corporation Act of Tennessee as set forth in the State statute (
T.C.A. 7-53-1), hereafter referred to as “the Act”. These powers enable the IDB to acquire, own, lease and dispose of properties to promote industry and to develop trade by attracting manufacturing, industrial, and commercial enterprises to the City of East Ridge.
The Act allows the IDB to issue bonds as well as offer economic development incentives that include tax abatement programs. Programs include Payment In Lieu of Tax (PILOT) agreements for industrial and commercial projects within prescribed guidelines and Tax Increment Financing (TIF) for redevelopment, infrastructure, and other community-improvement projects for projects within a designated improvement district within prescribed guidelines.
The IDB also has authority to enhance economic and community development under powers granted in the
Border Region Retail Tourism Development District Act (T.C.A. 7-40-1) which provides
incentives for retail and tourism wherein a portion of the Tennessee sales tax is returned to the City for reinvestment in a special retail and tourism district.
History:
The Industrial Development Board of the City of East Ridge was originally incorporated on November 19, 1979. In 2009, the IDB was dissolved by the State of Tennessee Secretary of State’s Office after several years of inactivity.
On June 11, 2014, the East Ridge City Council reconstituted the Industrial Development Board of the City of East Ridge (IDB). Additionally, the City Council merged the IDB with the advisory functions of the existing East Ridge Economic Advisory Board (EAB). The objective in merging the two bodies was “…to create a more efficient and effective economic development planning process by reducing the number of advisory and statutory boards and associated meetings while maintaining the highest quality input from East Ridge citizens regarding economic and community development.”
Members:
| Name |
Position |
Length of Term |
| Ruth Braly |
Chair |
2 Years |
| Kelly Still |
Vice-Chair |
2 Years |
| Mac Pendley |
Secretary |
2 Years |
| Estes Cocke |
Member |
4 Years |
| James Citty |
Member |
4 Years |
| Curtis Baker |
Member |
6 Years |
| Barton Burns |
Member |
6 Years |
*
Members appointed in June 2016
Agendas:
May 1, 2018 @ 5:00pm
September 11, 2018 @ 5:00pm
October 24, 2019
IDB Staff Contact:
Diane Qualls
IDB Registered Agent & Staff Liaison
(423) 867-7711
dqualls@eastridgetn.gov