Sec. 7. The authority may reject any or all bids or may make awards to the highest and best bidder or bidders. In determining the highest and best bids, the authority may take into consideration the following:
(1) The size and character of the improvements for the economic development project as proposed by the bidder to be made on the property and the terms and conditions of the consideration offered by the bidder.
(2) The bidder's plans and ability to carry out the economic development project with reasonable promptness.
(3) Whether the property and interests to be acquired by the bidder will be leased or released for the economic development project.
(4) The nature and extent of any obligations to be undertaken by the authority in conjunction with the improvement of the property or interests to be acquired for the economic development project as proposed by the bidder.
(5) The potential impact of the bidder's proposal on the creation of new employment or the retention of existing employment resulting from the economic development project.
(6) The potential impact of the bidder's proposal to attract or establish a major new business enterprise or to retain or expand a significant existing business enterprise that will provide or preserve gainful employment for the citizens of the state.
(7) The economic benefits to the state and its citizens that will result from the economic development project, as proposed by the bidder, including the dollar volume of new or preserved wages and salaries, increases in or preservation of state and local government tax revenues, the incremental economic benefits to the citizens of the state, the state, and local governmental units potentially resulting from the economic development project as proposed by the bidder, and any other direct or indirect economic benefit to the state and its citizens resulting from the economic development project as proposed by the bidder.
(8) The potential impact and benefit to the state and its citizens of the economic development project as proposed by the bidder from the standpoint of both human and economic welfare.
As added by P.L.189-2018, SEC.25.
Structure Indiana Code
Title 5. State and Local Administration
Article 1.2. Indiana Finance Authority
Chapter 9. Economic Development Projects
5-1.2-9-1. Purposes of This Chapter
5-1.2-9-3. Public Offering for Sale or Lease of Property
5-1.2-9-4. Public Offering; Requirements; Offering Sheet
5-1.2-9-7. Award to Highest and Best Bidder; Factors That May Be Considered; Rejection
5-1.2-9-8. Cost Benefit Analyses
5-1.2-9-9. Contracts With a Bidder; Provisions
5-1.2-9-10. Sale, Exchange, or Lease of Property; Terms; Time Period
5-1.2-9-11. Action to Contest Validity
5-1.2-9-12. Negotiation of Financing Agreements; Considerations; Expenses
5-1.2-9-13. Report for Proposed Economic Development Project; Plan Commission; School Superintendent
5-1.2-9-15. Approval of Proposed Financing Agreement
5-1.2-9-16. Financing Agreement; Payment Provisions
5-1.2-9-17. Financing Agreement; Limit on Term of an Agreement
5-1.2-9-19. Financing of Projects for Developers or Users Through Issuance of Bonds
5-1.2-9-20. Requirements That Must Be Complied With Before Entering Into a Financing Agreement
5-1.2-9-21. Bonds Not General Obligation of the State
5-1.2-9-22. Taxable Bonds; Payment Provisions
5-1.2-9-23. Power to Engage in Financing Activities; Purchase of a Loan
5-1.2-9-24. Lender Certifications
5-1.2-9-25. Guarantees; Secured Loans; Reservation of Funds
5-1.2-9-26. Power to Issue Bonds; Cumulative Term of Refunding Bonds
5-1.2-9-27. Property Not Public Property; Not Exempt From Taxation