§ 17C-4-204. Adoption of a budget for a community development project area plan -- Amendment.

(1) An agency may prepare and, by resolution adopted at a regular or special meeting of the agency board, adopt a budget setting forth:

(a) the anticipated costs, including administrative costs, of implementing the community development project area plan; and

(b) the tax increment, sales tax, and other revenue the agency anticipates receiving to fund the project.

(2) An agency may, by resolution adopted at a regular or special meeting of the agency board, amend a budget adopted under Subsection (1).

(3) Each resolution to adopt or amend a budget under this section shall appear as an item on the agenda for the regular or special agency board meeting at which the resolution is adopted without additional required notice.

(4) An agency is not required to obtain approval of the taxing entity committee for a community development project area budget.

Amended by Chapter 43, 2011 General Session