Sec. 3. (a) For purposes of this chapter, "improve" means to construct, reconstruct, or repair public ways, sidewalks, sewers, drains, fences, or buildings, and to do all other things that would enhance the value of real property and make it more suitable to industrial use.
(b) A unit may acquire by purchase, gift, or devise, and own, improve, maintain, sell, lease, convey, contract for, or otherwise deal in, real property for the development of industrial parks or industrial sites.
(c) A municipality may exercise powers granted by subsection (b) in areas within five (5) miles outside its corporate boundaries.
(d) When a district is designated under section 12(e) of this chapter, a unit may expend funds for the purposes set forth in subsections (a) and (b) for the development of or to enhance the value of real property used for retail purposes.
(e) When a district is designated under section 12.1 of this chapter, a unit may expend funds for the purposes set forth in section 12.1(b) of this chapter for the development of or to enhance the value of real property used for retail purposes and to make it more suitable to industrial or retail use.
[Pre-Local Government Recodification Citations: 18-7-14-2 part; 18-7-14-3.]
As added by Acts 1981, P.L.309, SEC.32. Amended by Acts 1981, P.L.310, SEC.76; P.L.262-1993, SEC.2; P.L.113-2002, SEC.4; P.L.224-2003, SEC.234.
Structure Indiana Code
Article 7. Planning and Development
Chapter 13. Industrial Development
36-7-13-1. Application of Chapter
36-7-13-2.4. "Gross Retail Base Period Amount"
36-7-13-2.6. "Gross Retail Incremental Amount"
36-7-13-3. "Improve"; Authority to Acquire, Own, and Deal in Real Property; Expenditure of Funds
36-7-13-3.2. "Income Tax Base Period Amount"
36-7-13-3.4. "Income Tax Incremental Amount"
36-7-13-3.8. "State and Local Income Taxes"
36-7-13-4. Industrial Development Fund; Tax Levy
36-7-13-5. Advisory Commission on Industrial Development; Creation; Membership; Duties
36-7-13-5.5. Sales or Leases of Property Acquired for Industrial Development
36-7-13-6. Industrial Development Fund; Payments and Deposits
36-7-13-7. Title to Real Property
36-7-13-8. Property Acquired by or From Unit; No Tax Exemption
36-7-13-9. Transfer of Surplus Funds; Cessation of Tax Levy
36-7-13-10. Application for Designation of District
36-7-13-10.1. Application for Designation of District in First or Second Class City
36-7-13-12.3. Designation of Districts After 2010; Requirements
36-7-13-14. Tax Incremental Amount Calculations; District Business Duties
36-7-13-15. Incremental Tax Financing Funds
36-7-13-16. Issuance of Bonds or Other Obligations
36-7-13-17. Pledge of Money in Industrial Development Fund
36-7-13-18. Goals or Benchmarks for Property Development or Redevelopment
36-7-13-19. Termination of District
36-7-13-20. Covenant Not to Adversely Affect Owners of Bonds or Obligations
36-7-13-21. Written Agreements for Joint Economic Development Projects
36-7-13-22. Terms of Written Agreement for Joint Economic Development Project