§ 36-7-15.1-58 — Commission powers in economic development area

Indiana § 36-7-15.1-58

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 7: PLANNING AND DEVELOPMENT
• Ch. 15.1: Redevelopment of Areas in Marion County Needing

Text

(a) All of the rights, powers, privileges,
and immunities that may be exercised by a commission in a
redevelopment project area may be exercised by a commission in an
economic development area, subject to the following:
(1) The content and manner of exercise of these rights, powers,
privileges, and immunities shall be determined by the purposes
and nature of an economic development area.
(2) Real property (or interests in real property) relative to which
action is taken under this section or section 28 or 57 of this
chapter in an economic development area is not required to meet
the conditions described in IC 36-7-1-3.
(3) Bonds may be issued in accordance with section 45 of this
chapter to defray expenses of carrying out activities under this
chapter in economic development areas if no other revenue
sources are available for this purpose.
(4) The tax exemptions set forth in section 52 of this chapter are
applicable in economic development areas.
(5) An economic development area may be an allocation area for
the purposes of distribution and allocation of property taxes.
However, a declaratory resolution or an amendment that
establishes an allocation area must be approved by resolution of
the legislative body of the excluded city.
(6) The excluded city legislative body may not use its power of
eminent domain under section 39 of this chapter to carry out
activities under this chapter in economic development areas.
(b) The content and manner of discharge of duties set forth in
section 39(a) of this chapter shall be determined by the purposes and
nature of an economic development area.

Legislative History

As added by P.L.102-1999, SEC.25. Amended by P.L.185-2005, SEC.47; P.L.146-2008, SEC.767.