(1)

1. (a) The authority board shall adopt a project area plan as provided in this part.

2. (b) In order to adopt a project area plan, the authority board shall:

   1. (i) prepare a draft project area plan;
   2. (ii) give notice as required under Subsection 63H-1-402(2);
   3. (iii) hold at least one public meeting, as required under Subsection 63H-1-402(1); and
   4. (iv) after holding at least one public meeting and subject to Subsection (1)(c), adopt the draft project area plan as the project area plan.
3. (c) Before adopting a draft project area plan as the project area plan, the authority board may make modifications to the draft project area plan that the board considers necessary or appropriate.

4. (d)

   1. (i) A lease or development agreement that the authority enters before the creation of a project area shall provide that the board is not required to create a project area.
   2. (ii) An authority may not be required to pay any amount or incur any loss or penalty for the board's failure to create a project area.

(2) Each project area plan and draft project area plan shall contain:

1. (a) a legal description of the boundary of the project area that is the subject of the project area plan;
2. (b) the authority'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 to effectuate a public purpose;
   2. (ii) there is a public benefit to the proposed development project;
   3. (iii) it is economically sound and feasible to adopt and carry out the project area plan; and
   4. (iv) carrying out the project area plan will promote the public peace, health, safety, and welfare of the community in which the project area is located.

(3) A project area described in a project area plan:

1. (a) shall include military land; and

2. (b) may include public or private land, whether or not it is contiguous to military land, if:

   1. (i) the legislative body of the county in which the public or private land is located, if the public land or private land is located in an unincorporated county, passes a resolution consenting to the inclusion of the land in the project area;
   2. (ii) the legislative body of an included municipality passes a resolution consenting to the inclusion of the land in the project area; and
   3. (iii) the owner of the public or private land consents to the inclusion of the land in the project area.