Initiating a community reinvestment project area plan.
Checkout our iOS App for a better way to browser and research.
(1) Subject to Subsection (2), a board shall initiate the process of adopting a community reinvestment project area plan by adopting a survey area resolution that:
(a) designates a geographic area located within the agency's boundaries as a survey area;
(b) contains a description or map of the boundaries of the survey area;
(c) contains a statement that the survey area requires study to determine whether project area development is feasible within one or more proposed community reinvestment project areas within the survey area; and
(d) authorizes the agency to:
(i) prepare a proposed community reinvestment project area plan for each proposed community reinvestment project area; and
(ii) conduct any examination, investigation, or negotiation regarding the proposed community reinvestment project area that the agency considers appropriate.
(2) If an agency anticipates using eminent domain to acquire property within the survey area, the resolution described in Subsection (1) shall include:
(a) a statement that the survey area requires study to determine whether a development impediment exists within the survey area; and
(b) authorization for the agency to conduct a development impediment study in accordance with Section 17C-5-403.