Sec. 10. (a) After compilation of the data required by section 9 of this chapter, the commission shall consider adopting a resolution declaring the area described under section 9 of this chapter a district under this chapter. The commission may adopt the resolution only after making the following findings:

(1) That the district is entirely within a redevelopment district and has been previously designated as a redevelopment project area under IC 36-7-15.1 or that the district is being so designated concurrently with the adoption of the resolution.

(2) That the completion of the redevelopment and economic development of the district will do all of the following:

(A) Attract new business enterprises to the district or retain or expand existing business enterprises in the district.

(B) Benefit the public health and welfare and be of public utility and benefit.

(C) Protect and increase state and local tax bases or revenues.

(D) Result in a substantial increase in temporary and permanent employment opportunities and private sector investment within the district.

     (b) The commission may not adopt the resolution described in subsection (a) after January 1, 1989.

As added by P.L.84-1987, SEC.13. Amended by P.L.5-1988, SEC.218; P.L.2-1989, SEC.40; P.L.185-2005, SEC.48.