Sec. 15. After compilation of the data required by section 14 of this chapter, the commission may adopt a resolution declaring the area described under section 14 of this chapter as a district. The commission may adopt the resolution only after finding that the completion of the redevelopment and economic development of the district will do all of the following:
(1) Attract new business enterprises to the district or retain or expand existing business enterprises in the district.
(2) Benefit the public health and welfare and be of public utility and benefit.
(3) Protect and increase state and local tax bases or revenues.
(4) Result in a substantial increase in temporary and permanent employment opportunities and private sector investment within the district.
As added by P.L.35-1990, SEC.63.
Structure Indiana Code
Article 7. Planning and Development
Chapter 26. Economic Development Project Districts
36-7-26-1. Application of Chapter
36-7-26-2. Legislative Findings and Declarations; Construction
36-7-26-3. "Adjustment Factor" Defined
36-7-26-4. "Base Period Amount" Defined
36-7-26-6. "Commission" Defined
36-7-26-7. "Department" Defined
36-7-26-10. "Gross Increment" Defined
36-7-26-11. "Local Public Improvement" Defined
36-7-26-12. "Net Increment" Defined
36-7-26-13. Power and Duties of Commission, Department, and Board
36-7-26-14. Compilation of Data; Requirements for Proposed Districts
36-7-26-15. Resolution Declaring Area as District; Adoption
36-7-26-18. Final Action on Resolution
36-7-26-19. Appeal; Dismissal; Bond; Burden of Proof
36-7-26-20. Approval of District by Ordinance
36-7-26-21. Delivery of Copy of Resolution to Department; List of Street Names and Numbers
36-7-26-24. Bonds; Issuance; Lease Rental Payments; Remitted Funds; Distributions
36-7-26-25. Maximization of Use of Tax Increment Financing by City; Property Tax Abatements
36-7-26-26. Credit Account; Use of Funds
36-7-26-27. Repeal or Amendment of Chapter; Adverse Effect on Bond Owners