(A) The Council may assist economic development projects in any legally permissible manner including but not limited to provision of land, buildings and infrastructure provided that all the requirements of §§ 2-14-1-1 et seq. are met. The city may provide land, buildings or infrastructure it already owns, or it may build, purchase or lease the facilities needed for an economic development project. The city at its discretion may bear the full cost or contribute a portion of the costs including the waiver of applicable fees. The city, at its discretion, may also contribute to the payment of costs for professional services contracts such as industry feasibility studies and planning and design services needed to implement a project.
(B) The Council may consider offering all forms of assistance allowed under this section and any other legally permissible forms of assistance; however, this does not establish any obligation on the city's part to offer any specific type or level of assistance.
(C) The Council may provide for a local contribution of payments reimbursing expenditures for land, building or infrastructure that is measured based on an increment of gross receipts taxes received by the city as a result of the construction of the Economic Development Project.
(Ord. 33-2004; Am. Ord. 2017-026)