Economic development area definition

Economic development area means an area of a municipality designated by the local governing body as appropriate for commercial and industrial enterprises, public improvements related to housing and residential development, or construction of housing and residential development for low and moderate income families, including single or multifamily housing. If an urban renewal plan for an urban renewal area is based upon a finding that the area is an economic development area and that no part contains slum or blighted conditions, then the division of revenue provided in section 403.19 and stated in the plan shall be limited to twenty years from the calendar year following the calendar year in which the municipality first certifies to the county auditor the amount of any loans, advances, indebtedness, or bonds which qualify for payment from the division of revenue provided in section 403.19. Such designated area shall not include agricultural land, including land which is part of a century farm, unless the owner of the agricultural land or century farm agrees to include the agricultural land or century farm in the urban renewal area. For the purposes of this subsection, “century farm” means a farm in which at least forty acres of such farm have been held in continuous ownership by the same family for one hundred years or more.

Economic development area means any area or portion of an area within the boundaries

Economic development area means a site or sites designated by the department of economic development for the purpose of attracting an eligible business and supporting businesses to locate facilities within the state.

Examples of Economic development area in a sentence

• Mr. Gropp explained that her property would be included in the Economic development area but would not be included in the allocation area.

• The criteria are established in accordance with one of three types of redevelopment areas including, a Blighted area, a Conservation area, or an Economic development area.

• These types of redevelopment areas are: • Blighted area;• Conservation area; or• Economic development area.

• Economic development area has been removed from chapter 99 as an option for tax increment financing projects.

• Economic development area' means an area of a municipality designated by the local governing body as appropriate for commercial and industrial enterprises, public improvements related to housing and residential development, or constructions of housing and residential development for low and moderate income families, including single or multifamily housing.

More Definitions of Economic development area

Economic development area means any area or portion of an area within the boundaries of a development or redevelopment district located within the territorial limits of a municipality or county that is neither a blighted area nor a conservation area and for which the county commission finds that development or redevelopment will not be solely used for development of commercial businesses that will unfairly compete in the local economy and that development or redevelopment is in the public interest because it will:

Economic development area means either of the following:

Economic development area means an area of a

Economic development area means the Meridiam Economic Development Area. “Pledge” means the pledge of the Applicable TIF Revenues by the Redevelopment

Economic development area means the East Side Economic Development Area that was designated by the Declaratory Resolution as an "economic development area" pursuant to Indiana Code 36-7-14-41, as amended by the Amendatory Resolution and as described in Exhibit A-1 hereto.

Economic development area means any area or portion of

Economic development area means the 46 Corridor Economic Development Area, an economic development area within the District previously established by the Redevelopment Commission in accordance with IC 36-7-14.