Sec. 18. (a) As used in this section, "developer" means a person that:
(1) proposes to enter into, or has entered into, a financing agreement with a unit for the development or redevelopment of a facility located in a district; and
(2) has entered into a separate agreement with some other person for the use or operation of the financed facility.
(b) A unit may establish goals or benchmarks concerning the development or redevelopment of property by a developer. The unit may provide that a developer that meets or exceeds the goals or benchmarks shall be paid a specified fee from the industrial development fund.
As added by P.L.125-1998, SEC.22.
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