Economic development target area; designation

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