The Henry County Community Improvement Corporation reviewed the policy regarding tax abatement agreements at their session this week. Executive Director Rob McColley discussed a policy that all abatements begin at the same starting point in negotiations, and limiting the director’s power to negotiate the ‘payment in lieu of taxes’ percentage for local school districts. This new policy would also require the director to keep the executive committee advised on progress of negotiations on these tax abatement agreements. These proposals were all approved by the Henry County CIC.
The economic development board has also approved adding 2-million dollars in liability insurance coverage for employment practices to cover the director and board members, at a cost of $250 annually.