Sec. 4. (a) A commission may establish as part of an additional professional sports development area any facility or complex of facilities that is:
(1) used to hold a professional sporting event, and which in addition, may be used to hold other entertainment events, including any publicly owned parking garage, plaza, or infrastructure that is constructed or renovated in connection with the construction of the facility used to hold a professional sporting event;
(2) used in the training of a team engaged in professional sporting events;
(3) used in whole or in part to manage and operate the professional team that would participate in the facility used to hold a professional sporting event; or
(4) a mixed use development, consisting, in part, of retail space, office space, apartment dwelling units, and one (1) or more hotels.
The tax area may include a facility described in this subsection and any parcel of land on which the facility is located. An area may contain noncontiguous tracts of land within the county. However, the straight line distance between any point in the tax area and the facility described in subdivision (1) may not exceed one (1) mile. The area must be separate from other professional sports development areas established under IC 36-7-31.
(b) Only the facilities described in subsection (a)(1) that are included within the additional professional sports development area may be financed with debt issued by the capital improvement board, the facilities authority, or a political subdivision.
(c) If a facility described in subsection (a)(1) shares a common wall or other improvements, equipment, or facilities with a facility described in subsection (a)(2) through (a)(4), the capital improvement board, the facilities board, or a political subdivision, as applicable, shall determine if any increase in the cost to construct or acquire the capital improvement results from the shared use and, consistent with subsection (b), whether the increased costs should or should not be financed.
As added by P.L.109-2019, SEC.16.