The general assembly finds the following:

1. (1) Northwest Indiana as a region and the city face unique and distinct challenges and opportunities related to the economic development issues associated with the construction and maintenance of a world-class stadium facility in the city.
2. (2) A unique approach is required to ensure that northwest Indiana has sufficient revenue sources to allow it to meet these challenges and opportunities.
3. (3) The powers and responsibilities provided to northwest Indiana and to the northwest Indiana stadium authority created by this chapter are appropriate and necessary to carry out the public purposes of encouraging and fostering economic development in northwest Indiana and constructing a world-class stadium facility in the city.
4. (4) The relocation of a National Football League franchised professional football team in northwest Indiana poses unique challenges due to the need for development of a world-class football stadium and related infrastructure that would not be needed apart from the needs related to the relocation of a National Football League franchised professional football team in the city.
5. (5) The relocation of a National Football League franchised professional football team in the city is critical to successful economic development in the city and northwest Indiana and is a public purpose.

6. (6) Encouragement of economic development in northwest Indiana will:

   1. (A) provide significant economic activity, a substantial portion of which results from persons residing outside Indiana, which may attract new businesses and encourage existing businesses to remain or expand in the city and northwest Indiana;
   2. (B) promote the city and northwest Indiana to residents outside Indiana, which may attract residents outside Indiana and new businesses to relocate to the city and northwest Indiana area;
   3. (C) protect and increase state and local tax revenues; and
   4. (D) encourage overall economic growth in northwest Indiana and in Indiana.

7. (7) Northwest Indiana faces unique challenges in the development of infrastructure and other facilities necessary to promote economic development:

   1. (A) as a result of its need to rely on sources of revenue other than property taxes;
   2. (B) due to the large number of tax exempt properties located in northwest Indiana; and
   3. (C) because northwest Indiana is the site of numerous state and regional nonprofit corporations.
8. (8) Economic development benefits the health and welfare of the people of Indiana, is a public use and purpose for which public money may be spent, and is of public utility and benefit.

As added by P.L.44-2026, SEC.1.