1. (a) A commission may establish as part of a professional sports development area any facility or complex of facilities:

   1. (1) that is used in the training of a team engaged in professional sporting events;

   2. (2) that is:

      1. (A) financed in whole or in part by:

         1. (i) notes or bonds issued by a political subdivision or issued under IC 36-10-9 or IC 36-10-9.1 ; or
         2. (ii) a lease or other agreement under IC 5-1-17 ; and
      2. (B) used to hold a professional sporting event; or

   3. (3) that consists of a hotel, motel, or a multibrand complex of hotels and motels, with significant meeting space:

      1. (A) located in an area in Indianapolis, Indiana, bounded on the east by Illinois Street, on the south by Maryland Street, and on the west and north by Washington Street, as those streets were located on June 1, 2009;

      2. (B) that provides:

         1. (i) convenient accommodations for consideration to the general public for periods of less than thirty (30) days, especially for individuals attending professional sporting events, conventions, or similar events in the capital improvements that are owned, leased, or operated by the capital improvement board; and
         2. (ii) significant meeting and convention space that directly enhances events held in the capital improvements that are owned, leased, or operated by the capital improvement board; and

      3. (C) that enhances the convention opportunities for the capital improvement board to hold events that:

         1. (i) would not otherwise be possible; and

         2. (ii) directly affect the success of both the facilities and capital improvements that are owned, leased, or operated by the capital improvement board.

            The tax area may include a facility or complex of facilities described in this section and any parcel of land on which the facility or complex of facilities is located. An area may contain noncontiguous tracts of land within the county.

2. (b) With respect to the site or future site of a facility or complex of facilities described in subsection (a)(3), the general assembly finds the following:

   1. (1) That the facility or complex of facilities in the tax area provides both convenient accommodations for professional sporting events, conventions, or similar events and significant meeting and convention space that directly enhance events held in the capital improvements that are owned, leased, or operated by the capital improvement board.
   2. (2) That the facility or complex of facilities in the tax area and the capital improvements that are owned, leased, or operated by the capital improvement board are integrally related to enhancing the convention opportunities that directly affect the success of both the facilities and capital improvements.
   3. (3) That the facility or complex of facilities in the tax area provides the opportunity for the capital improvement board to hold events that would not otherwise be possible.
   4. (4) That the facility or complex of facilities in the tax area protects or increases state and local tax bases and tax revenues.

As added by P.L.255-1997(ss), SEC.19. Amended by P.L.214-2005, SEC.66; P.L.182-2009(ss), SEC.409.