To secure professional economic and industrial development management expertise, local governments are authorized to contract for such services with a community-based not-for-profit economic development corporation. For the purposes of this section, “management” means economic and industrial development planning, marketing, advertising, public relations, supervision and operation of industrial parks or other such properties, negotiation of contracts for the sale or lease of such properties, and such other operating expenses as the governing body may deem necessary, convenient, or appropriate. A “community-based not-for-profit economic development corporation” means an organization formed for the same or similar purposes as those contained in this subchapter, which may be a chamber of commerce, industrial development corporation, or similar corporation.
Structure Arkansas Code
Subtitle 10 - Economic Development And Tourism Generally
Chapter 174 - Economic Development Tax
§ 14-174-103. Levy of new taxes permitted
§ 14-174-104. Levy of sales and use taxes currently authorized
§ 14-174-105. Disposition of funds — Definitions
§ 14-174-106. Public facilities