(a)The development authority may do any of
the following:
(1)Finance, improve, construct, reconstruct, renovate, purchase,
lease, acquire, and equip land and projects located in an eligible
county or eligible municipality.
(2)Lease land or a project to an eligible political subdivision.
(3)Finance and construct additional improvements to projects or
other capital improvements owned by the development authority
and lease them to or for the benefit of an eligible political
subdivision.
(4)Acquire land or all or a portion of one (1) or more projects
from an eligible political subdivision by purchase or lease and
lease the land or projects back to the eligible political subdivision,
with any additional improvements that may be made to the land
or projects.
(5)Acquire all or a portion of
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(a) The development authority may do any of
the following:
(1) Finance, improve, construct, reconstruct, renovate, purchase,
lease, acquire, and equip land and projects located in an eligible
county or eligible municipality.
(2) Lease land or a project to an eligible political subdivision.
(3) Finance and construct additional improvements to projects or
other capital improvements owned by the development authority
and lease them to or for the benefit of an eligible political
subdivision.
(4) Acquire land or all or a portion of one (1) or more projects
from an eligible political subdivision by purchase or lease and
lease the land or projects back to the eligible political subdivision,
with any additional improvements that may be made to the land
or projects.
(5) Acquire all or a portion of one (1) or more projects from an
eligible political subdivision by purchase or lease to fund or
refund indebtedness incurred on account of the projects to enable
the eligible political subdivision to make a savings in debt service
obligations or lease rental obligations or to obtain relief from
covenants that the eligible political subdivision considers to be
unduly burdensome.
(6) Make loans, loan guarantees, and grants or provide other
financial assistance to or on behalf of the following:
(A) A commuter transportation district.
(B) An airport authority or airport development authority.
(C) A regional bus authority. A loan, loan guarantee, grant, or
other financial assistance under this clause may be used by a
regional bus authority for acquiring, improving, operating,
maintaining, financing, and supporting the following:
(i) Bus services (including fixed route services and flexible
or demand-responsive services) that are a component of a
public transportation system.
(ii) Bus terminals, stations, or facilities or other regional bus
authority projects.
(D) A regional transportation authority.
(E) A member municipality that is eligible to make an
appointment to the development board under IC 36-7.5-2-3(b)(2) and that has pledged admissions tax revenue
for a bond anticipation note after March 31, 2014, and before
June 30, 2015. However, a loan made to such a member
municipality before June 30, 2016, under this clause must have
a term of not more than ten (10) years, must require annual
level debt service payments, and must have a market based
interest rate. If a member municipality defaults on the
repayment of a loan made under this clause, the development
authority shall notify the treasurer of state of the default and the
treasurer of state shall:
(i) withhold from any funds held for distribution to the
municipality under IC 4-33-12, or IC 4-33-13 an amount
sufficient to cure the default; and
(ii) pay that amount to the development authority.
(7) Provide funding to assist a railroad that is providing commuter
transportation services in an eligible county or eligible
municipality.
(8) Provide funding to assist an airport authority located in an
eligible county or eligible municipality in the construction,
reconstruction, renovation, purchase, lease, acquisition, and
equipping of an airport facility or airport project.
(9) Provide funding to assist in the development of an intermodal
facility to facilitate the interchange and movement of freight.
(10) Provide funding for economic development projects in an
eligible county or eligible municipality.
(11) Hold, use, lease, rent, purchase, acquire, and dispose of by
purchase, exchange, gift, bequest, grant, condemnation, lease, or
sublease, on the terms and conditions determined by the
development authority, any real or personal property located in an
eligible county or eligible municipality.
(12) After giving notice, enter upon any lots or lands for the
purpose of surveying or examining them to determine the location
of a project.
(13) Make or enter into all contracts and agreements necessary or
incidental to the performance of its duties and the execution of its
powers under this article.
(14) Sue, be sued, plead, and be impleaded.
(15) Design, order, contract for, and construct, reconstruct, and
renovate a project or improvements to a project.
(16) Appoint an executive director and employ appraisers, real
estate experts, engineers, architects, surveyors, attorneys,
accountants, auditors, clerks, construction managers, and any
consultants or employees that are necessary or desired by the
development authority in exercising its powers or carrying out its
duties under this article.
(17) Accept loans, grants, and other forms of financial assistance
from the federal government, the state government, a political
subdivision, or any other public or private source.
(18) Use the development authority's funds to match federal
grants or make loans, loan guarantees, or grants to carry out the
development authority's powers and duties under this article.
(19) Provide funding for regional transportation infrastructure
projects under IC 36-9-43.
(20) Except as prohibited by law, take any action necessary to
carry out this article.
(b) If the development authority is unable to agree with the owners,
lessees, or occupants of any real property selected for the purposes of
this article, the development authority may proceed under IC 32-24-1
to procure the condemnation of the property. The development
authority may not institute a proceeding until it has adopted a
resolution that:
(1) describes the real property sought to be acquired and the
purpose for which the real property is to be used;
(2) declares that the public interest and necessity require the
acquisition by the development authority of the property involved;
and
(3) sets out any other facts that the development authority
considers necessary or pertinent.
The resolution is conclusive evidence of the public necessity of the
proposed acquisition.