Indiana § 5-1.2-9-7 Award to highest and best bidder; factors that may be considered;
rejection

Indiana Statutes

§ 5-1.2-9-7 — Award to highest and best bidder; factors that may be considered; rejection

Indiana § 5-1.2-9-7

Title 5STATE AND LOCAL ADMINISTRATION

Art. 1.2INDIANA FINANCE AUTHORITY

Ch. 9Economic Development Projects

This text of Indiana § 5-1.2-9-7 (Award to highest and best bidder; factors that may be considered; rejection) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ind. Code § 5-1.2-9-7 (2026).

Text

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

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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.