The commission must make the following findings in the resolution adopting a housing program under section 45 of this chapter:

1. (1) Not more than twenty-five (25) acres of the area included in the allocation area has been annexed during the preceding five (5) years.
2. (2) No area within the allocation area has been annexed within the preceding five (5) years over a remonstrance of a majority of the owners of land within the annexed area.

3. (3) The program cannot be accomplished by regulatory processes or by the ordinary operation of private enterprise because of:

   1. (A) the lack of public improvements;
   2. (B) the existence of improvements or conditions that lower the value of the land below that of nearby land; or
   3. (C) other similar conditions.
4. (4) The public health and welfare will be benefited by accomplishment of the program.

5. (5) The accomplishment of the program will be of public utility and benefit as measured by:

   1. (A) the provision of adequate housing for low and moderate income persons;
   2. (B) an increase in the property tax base; or
   3. (C) other similar public benefits.
6. (6) At least one-third (1/3) of the parcels in the allocation area established by the program are vacant.
7. (7) At least seventy-five percent (75%) of the allocation area is used for residential purposes or is planned to be used for residential purposes.
8. (8) At least one-third (1/3) of the residential units in the allocation area were constructed before 1941.

9. (9) At least one-third (1/3) of the parcels in the allocation area have at least one (1) of the following characteristics:

   1. (A) The dwelling unit on the parcel is not permanently occupied.
   2. (B) The parcel is the subject of a governmental order, issued under a statute or an ordinance, requiring the correction of a housing code violation or unsafe building condition.
   3. (C) Two (2) or more property tax payments on the parcel are delinquent.
   4. (D) The parcel is owned by local, state, or federal government.
10. (10) The total area within the county or municipality that is included in any allocation area established for a housing program under section 45 of this chapter does not exceed three hundred
11. (300) acres.

As added by P.L.154-2006, SEC.75. Amended by P.L.68-2013, SEC.1.