17C-3-109 - Amending an economic development project area plan.
17C-3-109. Amending an economic development project area plan.
(1) An adopted economic development project area plan may be amended as provided inthis section.
(2) If an agency proposes to amend an adopted economic development project area planto enlarge the project area:
(a) the requirements under this part that apply to adopting a project area plan applyequally to the proposed amendment as if it were a proposed project area plan;
(b) the base year taxable value for the new area added to the project area shall bedetermined under Subsection 17C-1-102(6)(a)(ii) using the date of the taxing entity committee'sconsent referred to in Subsection (2)(c); and
(c) the agency shall obtain the consent of the taxing entity committee before the agencymay collect tax increment from the area added to the project area by the amendment.
(3) If a proposed amendment does not propose to enlarge an economic development project area, an agency board may adopt a resolution approving an amendment to an adoptedproject area plan after:
(a) the agency gives notice, as provided in Section 17C-3-402, of the proposedamendment and of the public hearing required by Subsection (3)(b);
(b) the agency board holds a public hearing on the proposed amendment that meets therequirements of a plan hearing;
(c) the agency obtains the taxing entity committee's consent to the amendment, if theamendment proposes:
(i) to enlarge the area within the project area from which tax increment is collected; or
(ii) to permit the agency to receive a greater percentage of tax increment or to receive taxincrement for a longer period of time than allowed under the adopted project area plan; and
(d) the agency obtains the consent of the legislative body or governing board of eachtaxing entity affected, if the amendment proposes to permit the agency to receive, from less thanall taxing entities, a greater percentage of tax increment or to receive tax increment for a longerperiod of time, or both, than allowed under the adopted project area plan.
(4) (a) An adopted project area plan may be amended without complying with the noticeand public hearing requirements of Subsections (2)(a) and (3)(a) and (b) and without obtainingtaxing entity committee approval under Subsection (3)(c) if the amendment:
(i) makes a minor adjustment in the legal description of a project area boundaryrequested by a county assessor or county auditor to avoid inconsistent property boundary lines; or
(ii) subject to Subsection (4)(b), removes a parcel of real property from a project areabecause the agency determines that inclusion of the parcel is no longer necessary or desirable tothe project area.
(b) An amendment removing a parcel of real property from a project area underSubsection (4)(a) may not be made without the consent of the record property owner of the parcelbeing removed.
(5) (a) An amendment approved by board resolution under this section may not takeeffect until adopted by ordinance of the legislative body of the community in which the projectarea that is the subject of the project area plan being amended is located.
(b) Upon a community legislative body passing an ordinance adopting an amendment toa project area plan, the agency whose project area plan was amended shall comply with therequirements of Sections 17C-3-107 and 17C-3-108 to the same extent as if the amendment were
a project area plan.
Amended by Chapter 279, 2010 General Session