Purpose: The purpose of the Economic Development Authority of the City of Roanoke is to acquire, lease, own and dispose of properties to the end that such Authority may be able to promote industry and develop trade by interesting manufacturing, industrial, governmental and commercial enterprises to locate in or remain in the Commonwealth; and further the use of agricultural products and natural resources, and vest such authority with all powers that may be necessary to enable it to accomplish such purposes, which powers shall in all respects be exercised for the benefit of the inhabitants of the Commonwealth, for the increase of their commerce and for the promotion of their safety, health, welfare, convenience and prosperity.
NOTE: See Chapter 33, Title 15.1, Code of Virginia (1950), as amended. (Sec. 15.2-4904 et. seq.)
The State Code requires that every director shall, at the time of his appointment and thereafter, reside in a locality within which the authority operates or in an adjoining locality.
Ordinance No. 37605-110606 incorporated name change from Industrial Development Authority to the Economic Development Authority.
For more information, contact the Secretary of the Authority or click here.