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(5) The accomplishment o(~the program will he of public <br />utility and benefit as measured by: <br />(A) the provision of adequate housing [or low and <br />moderate income persons; <br />(B) an increase in the property tax base; or <br />(C) other similar public benefits. <br />(6) At least one-third (1/3) of the parcels in the allocation <br />area established by the program are vacant. <br />(7) At least seventy-five percent (75%) of the allocation <br />area is used for residential purposes or is planned to be <br />used for residential purposes. <br />(R) At least one-third (] /3) of the residential unity in the <br />allocation area were constructed before 1941. <br />{~)) At least one-third (1/3) of the parcels in the allocation <br />area have at least one (1) of the following characteristics: <br />(A) The dwellinU unit on the pparcel is not <br />D F' <br />permanently occupied. <br />(B) The parcel is the subject of a governmental <br />order, issued under a statute or an ordinance, <br />requiring the correction of a housing code violation <br />or unsafe building condition. <br />(C) Two (2) or more property tax payments on the <br />parcel are delinquent. <br />(D) The parcel is owned by local, state, or federal <br />government. <br />(10) The total area within the county or municipality that is <br />included in any allocation area established for a housing <br />program under section 45 of this chapter does not exceed <br />one hundred fifty (150) acres. <br />Review of Compliance of Statutory Requirement <br />• <br />