1. (a) The board may designate up to ten (10) enterprise zones, in addition to any enterprise zones the federal government may designate in Indiana. The board may by seven (7) affirmative votes increase the number of enterprise zones above ten (10), but it may not add more than two (2) new zones each year (excluding any zone that may be added by the board in a municipality in which a previously designated zone has expired) and may not add any new zones after December 31, 2015. There may not be more than one (1) enterprise zone in any municipality.

2. (b) After approval by resolution of the legislative body, the executive of any municipality that is not an included town under IC 36-3-1-7 may submit one (1) application to the corporation to have one

   1. (1) part of the municipality designated as an enterprise zone. If an application is denied, the executive may submit a new application. The corporation shall provide application procedures.

3. (c) The corporation shall evaluate an enterprise zone application if it finds that the following threshold criteria exist in a proposed zone:

   1. (1) A poverty level in which twenty-five percent (25%) of the households in the zone are below the poverty level as established by the most recent United States census or an average rate of unemployment for the most recent eighteen (18) month period for which data is available that is at least one and one-half (1 1/2) times the average statewide rate of unemployment for the same eighteen (18) month period.
   2. (2) A population of more than two thousand (2,000) but less than ten thousand five hundred (10,500).

   3. (3) An area of more than three-fourths (3/4) of a square mile but less than four (4) square miles, with a continuous boundary (using natural, street, or highway barriers when possible) entirely within the applicant municipality. However, if the zone includes a parcel of property that:

      1. (A) is owned by the municipality; and

      2. (B) has an area of at least twenty-five (25) acres;

         the area of the zone may be increased above the four (4) square mile limitation by an amount not to exceed the area of the municipally owned parcel.

   4. (4) Property suitable for the development of a mix of commercial, industrial, and residential activities.
   5. (5) The appointment of a U.E.A. that meets the requirements of section 13 of this chapter.
   6. (6) A statement by the applicant indicating its willingness to provide certain specified economic development incentives.

4. (d) If an applicant has met the threshold criteria of subsection (c), the board shall evaluate the application, arrive at a decision based on the following factors, and either designate a zone or reject the application:

   1. (1) Level of poverty, unemployment, and general distress of the area in comparison with other applicant and nonapplicant municipalities and the expression of need for an enterprise zone over and above the threshold criteria of subsection (c).
   2. (2) Evidence of support for designation by residents, businesses, and private organizations in the proposed zone, and the demonstration of a willingness among those zone constituents to participate in zone area revitalization.

   3. (3) Efforts by the applicant municipality to reduce the impediments to development in the zone area where necessary, including but not limited to the following:

      1. (A) A procedure for streamlining local government regulations and permit procedures.
      2. (B) Crime prevention activities involving zone residents.
      3. (C) A plan for infrastructure improvements capable of supporting increased development activity.
   4. (4) Significant efforts to encourage the reuse of existing zone structures in new development activities to preserve the existing character of the neighborhood, where appropriate.
   5. (5) The proposed managerial structure of the zone and the capacity of the U.E.A. to carry out the goals and purposes of this chapter.

As added by P.L.4-2005, SEC.34. Amended by P.L.145-2016, SEC.13.