(1) To create a convention center reinvestment zone in a capital city under this part, the Governor's Office of Economic Development shall, after consulting with and giving notice to the related eligible municipality and county, provide a proposal for a convention center reinvestment zone in a capital city to the housing and transit reinvestment zone committee. (2) (a) The Governor's Office of Economic Development shall ensure that a proposal for the creation of a convention center reinvestment zone in a capital city includes the following information and data that: (i) defines the boundary of the proposed convention center reinvestment zone in a capital city; (ii) describes generally the proposed development plan; (iii) identifies a base year and collection period to calculate the property tax increment within the convention center reinvestment zone in a capital city; (iv) specifies a sales and use tax base year to calculate the sales and use tax increment within the convention center reinvestment zone in a capital city in accordance with Section 63N-23-406; (v) provides estimated project and investment objectives for the convention center reinvestment zone in a capital city; and (vi) outlines generally the impacts on transportation in and around the proposed convention center reinvestment zone in a capital city. (b) The proposal described in Subsection (2)(a) shall also provide estimated budgets and construction costs, anticipated revenue, financing, expenses, and other sources and uses of funds for the project area. (c) The proposal described in Subsection (2)(b) shall limit the use of funds to: (i) a convention center; (ii) a publicly owned entertainment venue; (iii) parking; and (iv) infrastructure related to the project. (3) A proposal by the Governor's Office of Economic Development for a convention center reinvestment zone in a capital city shall demonstrate how the information and data provided in the proposal described in Subsection (2) furthers the objectives described in Section
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