(a) Not later than October 1 of each year, the governing body of a readjustment zone shall submit to the bank a report in the form required by the bank.
(b) The report must be approved by the readjustment zone’s administrative authority, if one exists.

(c) The report must include for the year preceding the date of the report:
(1) a list of local incentives for community development available in the zone;
(2) the use of local incentives for which the governing body provided in the ordinance or order nominating the readjustment zone and the effect of those incentives on revenue;
(3) the number of businesses assisted, located, and retained in the zone since its designation due to the existence of the readjustment zone;
(4) a summary of all industrial revenue bonds issued to finance projects located in the zone; and
(5) a description of all efforts made to attain revitalization goals for the zone.