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Changes to Existing Law

SB192Modify the blight requirements for purposes of creating a tax increment financing district.

2 sections modified+115-116
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§ 11-9-10

Amended
+94-66
Section 11-9-10 — AMENDED
Developed areas impairing growth defined as blighted. 11-9-10. For the purposes of this chapter, the term "blighted area" means an area that substantially impairs or arrests the sound growth of the political subdivision, inhibits housing development, constitutes an economic or social liability, or is a danger in its present condition and use to the health, safety, morals, or welfare of the public because of: (1) The presence of a substantial number of substandard, slum, deteriorated, or deteriorating structures; (2) A predominance of defective or inadequate street layouts; (3) Faulty lot layout in relation to size, adequacy, accessibility, or usefulness; (4) Insanitary Unsanitary or unsafe conditions; (5) The deterioration of site or other improvements; improvements land or structures affixed to the land; (6) A diversity of ownership, tax, Tax or special assessment delinquency delinquencies exceeding the fair value of the land; (7) Defective or unusual conditions of title; or (8) The existence of conditions which that endanger life or property by fire and other causes; or (9) A predominance of open space with obsolete platting, diversity of ownership, or deterioration of structures or site improvements. 11

§ 11-9-8

Amended
+21-50
Section 11-9-8 — AMENDED
Required findings in resolution creating district. 11-9-8. The resolution required by § 11-9-5 shall must contain the following findings: (1) Not less than twenty-five fifty percent, by area, of the real property within the district is a blighted area or and not less than fifty percent, by area, of the real property within the district will stimulate and develop the general economic welfare and prosperity of the state through the promotion and advancement of industrial, commercial, manufacturing, agricultural, or natural resources development; and (2) The improvement of the area is likely to significantly enhance the value of substantially all other real property in the district. It is not necessary to identify the specific parcels meeting the criteria. No county may create a district located, in whole or in part, within a municipality, unless the governing body of the municipality has consented to creation of a district by resolution. 16