Section 5221 - Findings and declaration of necessity1.Legislative finding. The Legislature finds that there is a need for new development in areas of municipalities and plantations to: A. Provide new employment opportunities; [ 2001, c. 669, §1 (NEW).]B. Improve and broaden the tax base; and [ 2001, c. 669, §1 (NEW).]C. Improve the general economy of the State. [ 2001, c. 669, §1 (NEW).] [ 2011, c. 101, §1 (AMD).]
2.Authorization. For the reasons set out in subsection 1, municipalities and plantations may develop a program for improving a district of the municipality or plantation: A. To provide impetus for industrial, commercial, transit-oriented or arts district development, or any combination; [ 2009, c. 314, §1 (AMD).]B. To increase employment; and [ 2001, c. 669, §1 (NEW).]C. To provide the facilities outlined in the development program adopted by the legislative body of the municipality or plantation. [ 2011, c. 101, §2 (AMD).] [ 2011, c. 101, §2 (AMD).]
3.Declaration of public purpose. It is declared that the actions required to assist the implementation of development programs are a public purpose and that the execution and financing of these programs are a public purpose. [ 2001, c. 669, §1 (NEW).]
Amended by 2011, c. 101,§§ 1, 2, eff. 9/28/2011.2001, c. 669, § 1 (NEW) . 2007, c. 413, § 1 (AMD) . 2009, c. 314, § 1 (AMD) .