A petition for the establishment of an economic improvement district may be filed with the legislative body of the unit. The petition must include the following information:
- (1) The boundaries of the proposed district, including the boundaries of any zones to be established under section 5(b) of this chapter.
- (2) The name and address of each parcel and owner of land within the proposed district and a description of the existing land use and zoning classification of each parcel.
- (3) A detailed description of the economic improvement projects to be carried out within the proposed district, the estimated cost of these projects, and the benefits to accrue to the property owners within the district.
- (4) A plan for the application of assessment revenue to the cost of the economic improvement projects within the district.
- (5) A proposed formula for determining the percentage of the total benefit to be received by each parcel of real property within the district, in the manner provided by section 5 of this chapter.
- (6) The number of years in which assessments will be levied.
- (7) A proposed list of members for the board.
As added by P.L.195-1988, SEC.1.