Beginning on May 10, 2016, an agency: (1) may create a community reinvestment project area under Chapter 5, Community Reinvestment; (2) except as provided in Subsection (3), may not create: (a) an urban renewal project area under Chapter 2, Urban Renewal; (b) an economic development project area under Chapter 3, Economic Development; or (c) a community development project area under Chapter 4, Community Development; and (3) may create an urban renewal project area, an economic development project area, or a community development project area if: (a) before April 1, 2016, the agency adopts a resolution in accordance with: (i) Section 17C-2-101.5 for an urban renewal project area; (ii) Section 17C-3-101.5 for an economic development project area; or (iii) Section 17C-4-101.5 for a community development project area; and (b) the urban renewal project area, economic development project area, or community development project area is effective before September 1, 2016.
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