(A) The board of trustees of a regional airport authority, the board of directors of a port authority, or the legislative authority of a municipal corporation that owns, operates, or maintains a qualifying airport may, by resolution adopted before January 1, 2024, create an airport development district for the purpose of developing and implementing plans for public infrastructure improvements that benefit the qualifying airport and to finance expenditures to attract or retain airlines, increase the number of scheduled flights to and from the qualifying airport, or increase use of the airport by aircraft having greater passenger capacity or greater first-class seating availability. The resolution shall include a development plan for the district that, at minimum, specifies all of the following:

1. (1) The manner in which the nonprofit corporation that is to govern the district will be formed, operated, and organized;
2. (2) The manner in which the board of directors of the nonprofit corporation that is to govern the district are appointed;
3. (3) A plan for the public infrastructure improvements and other expenditures to be financed by the district;
4. (4) A description of the territory of the district, which shall consist of all parcels of real property that are located within five miles of the qualifying airport. For the purpose of this division, a parcel is located within five miles of a qualifying airport if the distance between any portion of the parcel and any portion of the qualifying airport is five miles or less.