the area than were employed in the area during the year that is ten
(10) years previous to the current year.
(3) There are significant obstacles to redevelopment of the area
due to any of the following problems:
(A) Obsolete or inefficient buildings.
(B) Aging infrastructure or inefficient utility services.
(C) Utility relocation requirements.
(D) Transportation or access problems.
(E) Topographical obstacles to redevelopment.
(F) Environmental contamination.
(4) The unit has expended, appropriated, pooled, set aside, or
pledged at least one hundred thousand dollars ($100,000) for
purposes of addressing the redevelopment obstacles described in
subdivision (3).
(5) The area is located in a county having a population of more
than one hundred twenty thousand (120,000) but less than one
hundred thirty thousand (130,000).
(c) For a county having a population of more than one hundred
eighteen thousand (118,000) but less than one hundred twenty thousand
(120,000), an advisory commission may adopt a resolution designating
not more than two (2) areas as districts. An advisory commission may
designate an area as a district only after finding the following:
(1) The area meets either of the following conditions:
(A) The area contains a building with at least seven hundred
ninety thousand (790,000) square feet, and at least eight
hundred (800) fewer people are employed in the area than were
employed in the area during the year that is fifteen (15) years
previous to the current year.
(B) The area contains a building with at least four three
hundred forty eighty-six thousand (440,000) (386,000) square
feet, and at least four hundred (400) fewer people are
employed in the area than were employed in the area during the
year that is fifteen (15) years previous to the current year.
(2) The area is located in or is adjacent to an industrial park.
(3) There are significant obstacles to redevelopment of the area
due to any of the following problems:
(A) Obsolete or inefficient buildings.
(B) Aging infrastructure or inefficient utility services.
(C) Utility relocation requirements.
(D) Transportation or access problems.
(E) Topographical obstacles to redevelopment.
(F) Environmental contamination.
(4) The area is located in a county having a population of more
than one hundred eighteen thousand (118,000) but less than one
hundred twenty thousand (120,000).
(d) For an area located in a county having a population of more than
two hundred thousand (200,000) but less than three hundred thousand
(300,000), an advisory commission may adopt a resolution designating
a particular area as a district only after finding all of the following:
(1) The area contains a building or buildings:
(A) with at least one million five hundred thousand (1,500,000)
square feet of usable interior floor space; and
(B) that is or are vacant or will become vacant.
(2) At least eighteen thousand (18,000) fewer persons are
employed in the area at the time of application than were employed
in the area before the time of application.
(3) There are significant obstacles to redevelopment of the area
due to any of the following problems:
(A) Obsolete or inefficient buildings.
(B) Aging infrastructure or inefficient utility services.
(C) Utility relocation requirements.
(D) Transportation or access problems.
(E) Topographical obstacles to redevelopment.
(F) Environmental contamination.
(4) The unit has expended, appropriated, pooled, set aside, or
pledged at least one hundred thousand dollars ($100,000) for
purposes of addressing the redevelopment obstacles described in
subdivision (3).
(5) The area is located in a county having a population of more
than two hundred thousand (200,000) but less than three hundred
thousand (300,000).
(e) For an area located in a county having a population of more than
three hundred thousand (300,000) but less than four hundred thousand
(400,000), an advisory commission may adopt a resolution designating
a particular area as a district only after finding all of the following:
(1) The area contains a building or buildings:
(A) with at least eight hundred thousand (800,000) gross
square feet; and
(B) having leasable floor space, at least fifty percent (50%) of
which is or will become vacant.
(2) There are significant obstacles to redevelopment of the area
due to any of the following problems:
(A) Obsolete or inefficient buildings as evidenced by a decline
of at least seventy-five percent (75%) in their assessed
valuation during the preceding ten (10) years.
(B) Transportation or access problems.
(C) Environmental contamination.
(3) At least four hundred (400) fewer persons are employed in the
area than were employed in the area during the year that is fifteen
(15) years previous to the current year.
(4) The area has been designated as an economic development
target area under IC 6-1.1-12.1-7.