1.Notice and hearing. Before designating a development district or adopting a development program, the municipal or plantation legislative body or the municipal or plantation legislative body's designee must hold at least one public hearing. Notice of the hearing must be published at least 10 days before the hearing in a newspaper of general circulation within the municipality or plantation. [2011, c. 101, §16(AMD).]
2.Review by commissioner. Before final designation of a tax increment financing district, the commissioner shall review the proposal to ensure that the proposal complies with statutory requirements. [2023, c. 377, §2(AMD).]
3.Effective date. A designation of a tax increment financing district or a development program for a tax increment financing district is effective upon approval by the commissioner. A designation of a development district other than a tax increment financing district is effective upon approval by the municipal or plantation legislative body. A development program other than a development program for a tax increment financing district is effective upon adoption by the municipal or plantation legislative body. [2013, c. 184, §5(AMD).]
4.Administration of district. The legislative body of a municipality or plantation may create a department, designate an existing department, office, agency, municipal housing or redevelopment authority or enter into a contractual arrangement with a private entity to administer activities authorized under this chapter. [2011, c. 101, §18(AMD).]
5.Amendments. A municipality or plantation may amend a designated development district or an adopted development program only after meeting the requirements of this section for designation of a development district or adoption of a development program. A municipality or plantation may not amend the designation of a development district if the amendment would result in the district's being out of compliance with any of the conditions in section 5223, subsection 3. [2011, c. 101, §19(AMD).]
Amended by 2023SP1, c. 377,§ 2, eff. 10/25/2023.Amended by 2013, c. 184,§ 5, eff. 10/9/2013.Amended by 2012, c. 655,§ JJ-26, eff. 7/1/2012.Amended by 2011, c. 101,§§ 16 through 19, eff. 9/28/2011.2001, c. 669, § 1 (NEW) .