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14-168-307. Project plan — Amendment.
Arkansas Code — all titles (historical 2020) · legal_authorities
14-168-307. Project plan — Amendment.
(a) The local governing body may adopt by ordinance an amendment to a project plan.
(b)(1) Adoption of an amendment to a project plan shall be preceded by a public hearing held by the local governing body as provided in § 14-168-306(e)(1), at which interested parties shall be afforded a reasonable opportunity to express their views on the amendment.
(2)(A) Notice of the hearing shall be published in a newspaper of general circulation in the city or county at least fifteen (15) days prior to the hearing.
(B) Prior to publication, a copy of the notice shall be sent by first-class mail to the chief executive officers of all local governments or entities having the power to levy taxes on property within the district and to the superintendent of any school district that includes property located within the proposed district.
(c)(1) One (1) or more existing redevelopment districts may be combined pursuant to lawfully adopted amendments to the original plans for each district.
(2) Provided that the local governing body finds that the combination of the districts will not impair the security for any bonds previously issued pursuant to this subchapter.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-168-307
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Stable record: arkansas_code:legal_authorities:14-168-307
Source file: gov.ar.code.title.14.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 2aa374657e02270db05a0b5a7ac268397df240d07ddd68990c3b06fe35e99953
Source location: content.xml paragraph 39397
Stored source content
14-168-307. Project plan — Amendment.
(a) The local governing body may adopt by ordinance an amendment to a project plan.
(b)(1) Adoption of an amendment to a project plan shall be preceded by a public hearing held by the local governing body as provided in § 14-168-306(e)(1), at which interested parties shall be afforded a reasonable opportunity to express their views on the amendment.
(2)(A) Notice of the hearing shall be published in a newspaper of general circulation in the city or county at least fifteen (15) days prior to the hearing.
(B) Prior to publication, a copy of the notice shall be sent by first-class mail to the chief executive officers of all local governments or entities having the power to levy taxes on property within the district and to the superintendent of any school district that includes property located within the proposed district.
(c)(1) One (1) or more existing redevelopment districts may be combined pursuant to lawfully adopted amendments to the original plans for each district.
(2) Provided that the local governing body finds that the combination of the districts will not impair the security for any bonds previously issued pursuant to this subchapter.
Cross-references
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Arkansas Code — all titles (historical 2020) · legal_authorities
14-168-306. Project plan — Approval.
(a)(1) Upon the creation of the redevelopment district, the local governing body shall cause the preparation of a project plan for each redevelopment district, and the project plan shall be adopted by ordinance of the local governing body.
(2) This process shall conform to the procedures set forth in this section.
(b) Each project plan shall include:
(1) A statement listing the kind, number, and location of all proposed public works or improvements benefiting the district;
(2)(A) An economic analysis prepared by a third party independent of the local governing body that shall include the projected aggregate tax impact, if any, to taxing units as a result of the creation of a redevelopment district.
(B) The economic analysis shall include a comparison of the projected ad valorem tax revenue diverted from taxing units to the redevelopment district special fund against all projected sales, income, and ad valorem taxes received by taxing units or recaptured by taxing units from neighboring states as a result of the creation of the redevelopment district.
(C)(i) The local governing body shall submit the economic analysis to the Arkansas Economic Development Commission for review.
(ii) The commission shall review the economic analysis and provide written comments as to its economic feasibility to the local governing body no later than thirty (30) days after submission by the local governing body;
(3) A list of estimated project costs;
(4) A description of the methods of financing all estimated project costs, including the issuance of tax increment bonds;
(5) A certification by the county assessor of the base value as of the date of certification;
(6) A certification by the county clerk or county tax collector, if th
Source: Arkansas Code — historical release 78 (November 6, 2020) · 14-168-306
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. The source passage cites 14-168-306. This identifies an authority to review, not proof of applicability.