1. (1) As provided in this section, the fairpark district may adopt a project area plan for the development of some or all of the land within the fairpark district boundary.
2. (2) In consultation with the fair park authority board, the fairpark district may adopt a project area plan for the development of some or all of the fair park land.
3. (3) With the consent of a qualified owner, the fairpark district may adopt a project area plan for the development of the qualified owner's land, including the development and construction of a qualified stadium.

4. (4)

   1. (a) To adopt a project area plan, the board shall:

      1. (i) prepare a draft project area plan;
      2. (ii) give notice as required under Subsection 11-70-503(2);
      3. (iii) hold at least one public meeting, as required under Subsection 11-70-503(1); and
      4. (iv) after holding at least one public meeting and subject to Subsection (4)(b), adopt the draft project area plan as the project area plan.
   2. (b) Before adopting a draft project area plan as the project area plan, the board may make modifications to the draft project area plan that the board considers necessary or appropriate.

5. (5) A project area plan and draft project area plan shall contain:

   1. (a) a legal description of the boundary of the project area;
   2. (b) the fairpark district's purposes and intent with respect to the project area; and

   3. (c) the board's findings and determination that:

      1. (i) there is a need for the proposed development project to effectuate a public purpose;
      2. (ii) there is a public benefit that will result from the proposed development project; and
      3. (iii) it is economically sound and feasible to adopt and carry out the project area plan.

Enacted by Chapter 419, 2024 General Session