(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).

As added by P.L.144-2008, SEC.47. Amended by P.L.1-2009, SEC.168.