135.960.  Public hearing required — ordinance requirements — expiration date — annual report. — 1.  Any governing authority that desires to have any portion of a city or unincorporated area of a county under its control designated as an enhanced enterprise zone shall hold a public hearing for the purpose of obtaining the opinion and suggestions of those persons who will be affected by such designation.

  2.  After a public hearing is held as required in subsection 1 of this section, the governing authority may, by a majority vote of the members of the governing authority, adopt an ordinance or resolution designating a specific area as an enhanced enterprise zone.  Such ordinance shall include, in addition to a description of the physical, social, and economic characteristics of the area:

  (1)  A plan to provide adequate police protection within the area;

  (2)  A specific and practical process for individual businesses to obtain waivers from burdensome local regulations, ordinances, and orders which serve to discourage economic development within the area to be designated an enhanced enterprise zone, except that such waivers shall not substantially endanger the health or safety of the employees of any such business or the residents of the area;

  (3)  A description of what other specific actions will be taken to support and encourage private investment within the area;

  (4)  A plan to ensure that resources are available to assist area residents to participate in increased development through self-help efforts and in ameliorating any negative effects of designation of the area as an enhanced enterprise zone;

  (5)  A statement describing the projected positive and negative effects of designation of the area as an enhanced enterprise zone;

  (6)  A specific plan to provide assistance to any person or business dislocated as a result of activities within the enhanced enterprise zone.  Such plan shall determine the need of dislocated persons for relocation assistance; provide, prior to displacement, information about the type, location, and price of comparable housing or commercial property; provide information concerning state and federal programs for relocation assistance and provide other advisory services to displaced persons.  Public agencies may choose to provide assistance under the Uniform Relocation and Real Property Acquisition Act, 42 U.S.C. Section 4601, et seq., to meet the requirements of this subdivision; and

  (7)  A description or plan that demonstrates the requirements of subsection 4 of section 135.953.

  3.  An enhanced enterprise zone designation shall expire in twenty-five years.

  4.  Each designated enhanced enterprise zone board shall report to the director on an annual basis regarding the status of the zone and business activity within the zone.