§5250-H. Findings and declaration of necessity
1.
Legislative finding.
The Legislature finds that there is a need to encourage development in economically distressed areas of the State in order to:
A.
Provide new employment opportunities;
[PL 2003, c. 688, Pt. D, §2 (NEW).]
B.
Improve existing employment opportunities;
[PL 2003, c. 688, Pt. D, §2 (NEW).]
C.
Improve and broaden the tax base; and
[PL 2003, c. 688, Pt. D, §2 (NEW).]
D.
Improve the general economy of the State.
[PL 2003, c. 688, Pt. D, §2 (NEW).]
[PL 2003, c. 688, Pt. D, §2 (NEW).]
2.
Authorization.
For the reasons set out in subsection 1, a unit of local government, or 2 or more cooperating units of local government, may develop a program for improving a district within its collective boundaries:
A.
To provide impetus for targeted business development;
[PL 2003, c. 688, Pt. D, §2 (NEW).]
B.
To increase employment; and
[PL 2003, c. 688, Pt. D, §2 (NEW).]
C.
To provide the facilities outlined in the development program adopted by the participating units of local government.
[PL 2003, c. 688, Pt. D, §2 (NEW).]
[PL 2003, c. 688, Pt. D, §2 (NEW).]
3.
Declaration of public purpose.
The Legislature declares that the actions required to assist the implementation of these development programs are a public purpose and that the execution and financing of these programs are a public purpose.
[PL 2003, c. 688, Pt. D, §2 (NEW).]
SECTION HISTORY
PL 2003, c. 688, §D2 (NEW).