Forest Wright, president of Shoals Economic Development Authority, said the move would streamline development efforts.
"It would remove one step in the process so, to a degree, it does make it easier," Wright
"Having all of the properties held by one entity helps to consolidate those efforts."
The property will be owned by SIDC
, the board in charge of distributing money from the half-cent sales tax increase that took effect Aug. 1, 2007, and is used to find economic development projects.
The land will be managed and marketed by SEDA
"As this land is sold, the income from the sale of the property will go back into funds to purchase more property," Wright