A. The enterprise zone plan shall include:
(1) a map of the enterprise zone;
(2) a narrative describing how the enterprise zone will eliminate economic distress in the enterprise zone;
(3) a description of local incentives and initiatives to be implemented in the enterprise zone;
(4) the concurrences of any other local government or nongovernmental entity involved in providing local incentives and initiatives;
(5) the termination date for the enterprise zone;
(6) a listing of properties within the enterprise zone to which the tax increment procedures authorized by the Enterprise Zone Act are to be applied;
(7) a boundary description of the enterprise zone;
(8) a list of street addresses contained in the enterprise zone; and
(9) any other information the local government requires by ordinance to be included in the plan.
B. The local incentives and initiatives to be implemented may use local funds and, to the extent permitted by law, funds from federal or state programs and may include:
(1) a reduction of taxes or fees applying within the enterprise zone when the reduction is permitted by law;
(2) programs to increase the level of efficiency of local services provided within the enterprise zone;
(3) preferences to be granted to businesses operating within the enterprise zone;
(4) mechanisms to increase the equity ownership of residents and employees of businesses operating within the enterprise zone; and
(5) methods to involve private entities, organizations, neighborhood associations and community groups in the enterprise zone.
C. At any time after an enterprise zone is designated, the local government may change the enterprise zone plan after public hearing on the proposed changes.
History: Laws 1993, ch. 33, § 6.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal plans you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with easy access to affordable legal services through a network of independent law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our network law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your network law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal plans, and access to the LegalFix networks of law firms are subject to the LegalFix Terms of Service and Privacy Policy.