Sec. 5. As used in this chapter, “redevelopment” means the construction of new structures, in a district, either:

(1) on unimproved real estate; or

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Terms Used In Indiana Code 6-1.1-40-5

  • district: means a geographic territory designated as a maritime opportunity district by the ports of Indiana under section 7 of this chapter. See Indiana Code 6-1.1-40-2
(2) on real estate upon which a prior existing structure is demolished to allow for a new construction.

As added by P.L.62-1988, SEC.1.