Regional economic development partnerships — Board of directors

1. Law
2. Arkansas Code
3. Natural Resources and Economic Development
4. Development Of Economic And Natural Resources Generally
5. Development Of Business And Industry Generally
6. Regional Economic Development Partnership Act
7. Regional economic development partnerships — Board of directors

1. (a) A regional economic development partnership shall satisfy the following requirements:

   1. (1) The economic development region includes the active participation of at least two (2) contiguous counties;

   2. (2) The economic development region is of adequate size in population to:

      1. (A) Effectively undertake economic development activities while remaining a distinct and viable region for attracting new investment; and

      2. (B) Generate adequate regional resources to provide matching funds; and

   3. (3) The economic development region is economically integrated as determined by:

      1. (A) Commuting patterns;

      2. (B) Economic base;

      3. (C) Major employers;

      4. (D) Membership in a defined metropolitan or micropolitan statistical area; or

      5. (E) Other indicators determined by the Arkansas Economic Development Commission.

2. (b)

   1. (1) After a regional economic development partnership has been formed, a county may elect to join the regional economic development partnership by adopting an ordinance to that effect.

   2. (2) However, a county that adopts an ordinance under subdivision (b)(1) of this section shall become a member of the regional economic development partnership only upon a majority vote of the members of the board of directors of the regional economic development partnership that are residents of Arkansas.

3. (c)

   1. (1) A regional economic development partnership formed on or after January 1, 2013, shall be governed by a board of directors that shall operate, manage, and control the regional economic development partnership in all respects.

   2. (2) If a regional economic development partnership is formed on or after January 1, 2013:

      1. (A) The board of directors shall contain at least one (1) representative from each county that is a member of the regional economic development partnership;

      2. (B) The governing body of each county that is a member of the regional economic development partnership shall appoint members of the board of directors; and

      3. (C) A person appointed to the board of directors may be a representative of either a public entity or a private entity.

   3. (3) Each member of the board of directors shall serve for a term as provided under the bylaws of the regional economic development partnership.

   4. (4) The commission may allow an existing entity that applies to be a regional economic development partnership to maintain the entity's existing rules regarding the membership, terms, and duties of the board of directors.

   5. (5) If a regional economic development partnership includes a territory located in another state, regional funding provided under this subchapter shall only be provided to a county in Arkansas.

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