§ 6-1.1-12.1-7 — Economic development target area; designation

Indiana § 6-1.1-12.1-7

• Jurisdiction: Indiana
• Art. 1.1: PROPERTY TAXES
• Ch. 12.1: Deduction for Rehabilitation or Redevelopment of

Text

(a) After favorable recommendation by an
economic development commission, the fiscal body of a city, town, or
county may by ordinance designate as an economic development target
area a specific geographic territory that:
(1) has become undesirable or impossible for normal development
and occupancy because of a lack of development, cessation of
growth, deterioration of improvements or character of occupancy,
age, obsolescence, substandard buildings, or other factors that
have impaired values or prevent a normal development of
property or use of property;
(2) has been designated as a registered historic district under:
(A) the National Historic Preservation Act of 1966; or
(B) the jurisdiction of a preservation commission organized
under:
(i) IC 36-7-11;
(ii) IC 36-7-11.1;
(iii) IC 36-7-11.2;
(iv) IC 36-7-11.3; or
(v) IC 14-3-3.2 (before its repeal); or
(3) encompasses buildings, structures, sites, or other facilities that
are:
(A) listed on the national register of historic places established
pursuant to 16 U.S.C. 470 et seq.;
(B) listed on the register of Indiana historic sites and historic
structures established under IC 14-21-1; or
(C) determined to be eligible for listing on the Indiana register
by the Indiana state historic preservation officer.
(b) The fiscal body of a city, town, or county may designate a
maximum of fifteen percent (15%) of the total geographic territory of
the city, town, or county to be in economic development target areas.
(c) Notwithstanding the repeal of IC 36-7-11.9-4 and IC 36-7-12-38,
an economic development target area established by a city or town
before July 1, 1987, continues in effect until it is modified or abolished
by ordinance of the city or town fiscal body.

Legislative History

As added by P.L.82-1987, SEC.7. Amended by P.L.1-1995, SEC.44; P.L.204-2023, SEC.6.