Section 11-9-8 - Findings required as to blighted areas--Likelihood of enhanced value fromimprovements.
11-9-8. Findings required as to blighted areas--Likelihood of enhanced value from improvements. To implement the provisions of this chapter, the resolution required by § 11-9-5 shall contain findings that:
(1) Not less than twenty-five percent, by area, of the real property within the district is a blighted area; and
(2) The improvement of the area is likely to enhance significantly the value of substantially all of the other real property in the district.
It is not necessary to identify the specific parcels meeting the criteria. No county may create a tax incremental district located, in whole or in part, within a municipality, unless the governing body of such municipality has consented thereto by resolution.
Source: SL 1978, ch 91, § 7 (4) (a), (b); SL 1991, ch 114, § 2; SL 1992, ch 60, § 2; SL 2004, ch 126, § 2.