Sec. 5. A commission may enter into a project agreement with a developer that has been selected as the successful bidder after following the procedures set forth in IC 36-7-14-22, IC 36-7-15.1-15, or IC 36-7-15.1-44 regarding dispositions of property or interests. Any project agreement must be approved by resolution of the commission. The project agreement may contain terms and provisions for development of projects in a redevelopment or economic development area that are negotiated with the developer in the discretion of the commission, including the type and character of consideration for the disposition, conditions and covenants as to future actions of the commission and the developer, and the obligation of the commission to exercise any of the commission's powers under IC 36-7-14, IC 36-7-15.1, this chapter, or any other applicable law.
As added by P.L.35-1990, SEC.62. Amended by P.L.102-1999, SEC.29.
Structure Indiana Code
Article 7. Planning and Development
Chapter 25. Additional Powers of Redevelopment Commissions
36-7-25-3. Financing of Projects, Improvements, and Purposes
36-7-25-4. Joint Undertaking of Redevelopment or Economic Development Projects in Contiguous Areas
36-7-25-5. Project Agreements; Procedures
36-7-25-6.5. Certain Tax Exempt Property; Limitation on Charges
36-7-25-7. Contracts With Eligible Entities for Educational and Training Programs
36-7-25-8. Redevelopment Commission; Duty to Annually Present Information to Taxing Units