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Indiana Code Title 5. State and Local Administration § 5-28-15.5-7

Current as of January 02, 2024 | Updated by Findlaw Staff

Sec. 7. (a) A district board shall do the following:

(1) Coordinate development activities within the district.

(2) Serve as a catalyst for development within the district.

(3) Promote the district to outside groups and individuals.

(4) Establish a formal line of communication with residents and businesses in the district.

(5) Act as a liaison among residents, businesses, the municipality, and the board for any development activity that may affect the district or district residents.

(6) Use revenue derived from:

(A) registration fees paid under section 4(a)(2)(A) of this chapter;  and

(B) amounts paid under section 4(b) of this chapter;

only for the administration of the district and the benefit of district businesses.

(b) A district board shall:

(1) develop metrics for the annual reporting of information about the district to the legislative body of the qualified municipality that established the district;  and

(2) submit the metrics for approval to the legislative body of the qualified municipality and the executive of the qualified municipality.

The metrics for the annual reporting of information may be revised and reapproved from time to time.

(c) Each year before September 1, a district board shall present a written report to the legislative body of the qualified municipality that established the district.  The annual written report must provide information about the district in terms of the metrics approved under subsection (b).  In addition, in the case of the district established in the city of Fort Wayne, the written report under this subsection shall include the following information:

(1) The retention rate for employees hired by each district business since the date the district was established.

(2) The total number of district businesses established in the district since the date the district was established and of those businesses, the number of businesses that are no longer in operation, if any.

(3) If matching funds are required for an incentive that is provided to a district business:

(A) the percentage amount of matching funds that are provided for each incentive in relation to the total amount of the incentive;  and

(B) the sources of the matching funds for the incentive, whether provided by the district business receiving the incentive or a third party public or private entity.

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Cite this article: FindLaw.com - Indiana Code Title 5. State and Local Administration § 5-28-15.5-7 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-5-state-and-local-administration/in-code-sect-5-28-15-5-7/

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