§5221. Findings and declaration of necessity
1.
Legislative finding.
The Legislature finds that there is a need for new development in areas of municipalities and plantations to:
A.
Provide new employment opportunities;
[PL 2001, c. 669, §1 (NEW).]
B.
Improve and broaden the tax base; and
[PL 2001, c. 669, §1 (NEW).]
C.
Improve the general economy of the State.
[PL 2001, c. 669, §1 (NEW).]
[PL 2011, c. 101, §1 (AMD).]
2.
Authorization.
For the reasons set out in subsection 1, municipalities and plantations may develop a program for improving a district of the municipality or plantation:
A.
To provide impetus for industrial, commercial, transit-oriented or arts district development, or any combination;
[PL 2009, c. 314, §1 (AMD).]
B.
To increase employment; and
[PL 2001, c. 669, §1 (NEW).]
C.
To provide the facilities outlined in the development program adopted by the legislative body of the municipality or plantation.
[PL 2011, c. 101, §2 (AMD).]
[PL 2011, c. 101, §2 (AMD).]
3.
Declaration of public purpose.
It is declared that the actions required to assist the implementation of development programs are a public purpose and that the execution and financing of these programs are a public purpose.
[PL 2001, c. 669, §1 (NEW).]
SECTION HISTORY
PL 2001, c. 669, §1 (NEW). PL 2007, c. 413, §1 (AMD). PL 2009, c. 314, §1 (AMD). PL 2011, c. 101, §§1, 2 (AMD).