Sec. 8. As used in this chapter, "residentially distressed area" means an area: (1) that has a significant number of: (A) dwellings (as defined in IC 6-1.1-12-37 ) within the area that are: (i) not permanently occupied; (ii) subject to an order issued under IC 36-7-9 ; or (iii) evidencing significant building deficiencies; or (B) vacant parcels of real property (as defined by IC 6-1.1-1-15 ); or (2) that has experienced a net loss in the number of dwellings (as defined in IC 6-1.1-12-37 ).
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