(1) In addition to the duties described in Section 63N-1a-303, the executive director shall coordinate the use of increment financing to achieve the state's long-term housing and economic development goals while balancing the need of local communities to protect tax base and continue to provide essential services to a growing population. (2) Following the office's evaluation of a proposal, as described in Section 63N-3a-202, the executive director shall: (a) determine whether the proposal demonstrates broad regional benefits to the state and the state's residents, including the provision of affordable housing, enhancing statewide infrastructure, or contributing to economic resilience; (b) evaluate the proposal by considering: (i) the impact of proposed increment financing on residents; and (ii) existing uses of increment in the proposed area; and (c) provide the proposal, with the executive director's determination and recommendation, to the committee for consideration. (3) The executive director shall: (a) coordinate a committee's evaluation of a proposal; and (b) maintain active communication with regional economic development authorities regarding increment financing. (4) (a) Subject to Subsection (4)(b), the office may enter into a contract with an independent consultant, regional economic development authority, or political subdivision with expertise in analyzing economic development opportunities and managing increment financing to assist the office in the performance of the duties described in this chapter. (b) An independent consultant contracted to assist the office under Subsection (4)(a) may not advise the creating entity or any party with a financial stake in the proposed regionally significant development zone.
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