§ 36-7-26-2 — Legislative findings and declarations; construction

(a) Present economic conditions in certain
areas of certain cities are stagnant or deteriorating.
(b) Present economic conditions in such areas are beyond remedy
and control by existing regulatory processes because of the substantial
public financial commitments necessary to encourage significant
increases in economic activities in such areas.
(c) Encouraging economic development in these areas will:
(1) attract new businesses and encourage existing business to
remain or expand;
(2) increase temporary and permanent employment opportunities
and private sector investment;
(3) protect and increase state and local tax bases; and
(4) encourage overall economic growth in Indiana.
(d) Redevelopment and stimulation of economic development
benefit the health and welfare of the people of Indiana, are public uses
and purposes for which the public money may be spent, and are of
public utility and benefit.
(e) Economic development in such areas can be accomplished only
by a coordinated effort of local and state governments.
(f) This chapter shall be liberally construed to carry out the purposes
of this chapter and to provide cities with maximum flexibility to
accomplish those purposes.

Legislative History

As added by P.L.35-1990, SEC.63.