The biggest change between the revised document is that the organization will be able to accept and spend donations, grants and payments of money. The board will able to transfer or donate funds from participating organizations or outside sources to other public or nonprofit entities within the county to be used for economic or industrial development.
In the original interlocal agreement, the board was not allowed to accept such funding.
The revision also allows the board to manage these assets. The agreement authorizes the board “to provide the effective management and operation of property and/or assets coming into the control of the board (that) are or have the potential to be utilized for purposes of economic industrial development.”
While the board approved the revised agreement on Monday, it will take at least a month to become effective. That is because all four entities in the agreement must approve it: the Carter County Commission, the Elizabethton City Council, the Johnson City Commission and the Watauga City Council. In the case of Johnson City, that will require three readings.
In another matter, Johnson City Mayor Jenny Brock said the mountain areas of Carter and Unicoi counties will play a prominent role in future tourist development.