(a) The local government may pay, but shall have no obligation to pay, the costs of preparing the project plan or forming the redevelopment district.
(b) If the local government elects not to incur those costs, they shall be made project costs of the district and reimbursed from bond proceeds or other financing, or may be paid by developers, property owners, or other persons interested in the success of the redevelopment project.
Structure Arkansas Code
Subtitle 10 - Economic Development And Tourism Generally
Chapter 168 - Community Redevelopment Generally
Subchapter 3 - Community Redevelopment — Creation and Procedures
§ 14-168-303. Powers supplemental
§ 14-168-304. Powers generally
§ 14-168-305. Creation of district
§ 14-168-306. Project plan — Approval
§ 14-168-307. Project plan — Amendment
§ 14-168-308. Termination of districts
§ 14-168-309. Costs of formation
§ 14-168-310. Overlapping districts
§ 14-168-311. Valuation of real property
§ 14-168-312. Division of ad valorem real property tax revenue
§ 14-168-313. Payments in lieu of taxes and other revenues
§ 14-168-315. Redevelopment bonds or notes — Authority to issue
§ 14-168-316. Redevelopment bonds or notes — Authorizing resolution
§ 14-168-317. Redevelopment bonds or notes — Terms, conditions, etc
§ 14-168-318. Redevelopment bonds or notes — Security — Marketability
§ 14-168-319. Redevelopment bonds or notes — Special fund for repayment
§ 14-168-320. Redevelopment bonds or notes — Tax exemption
§ 14-168-323. Value of assessed property in a redevelopment district