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Indiana Code Title 6. Taxation § 6-1.1-12.1-7

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

Sec. 7. (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.

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Cite this article: FindLaw.com - Indiana Code Title 6. Taxation § 6-1.1-12.1-7 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-6-taxation/in-code-sect-6-1-1-12-1-7/

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