Indiana Code 5-1.2-2-13. “Cost of the project”
Current as of: 2023 | Check for updates
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Terms Used In Indiana Code 5-1.2-2-13
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 13. “Cost of the project”, for purposes of an economic development project under IC 5-1.2-9, means the cost or fair market value of construction, equipment, lands, property rights, easements, franchises, patents, financing charges, interest cost during construction, engineering and legal services, plans, specifications, surveys, cost estimates, studies, and other expenses as may be necessary or incident to the development, construction, financing, and placing in operation of an economic development project.
As added by P.L.189-2018, SEC.25.