(a) This chapter shall be known as and may be cited as "The Neighborhood Infrastructure Incentive Plan Act of 2011."
(b) For purposes of this chapter, the following terms shall have the following meanings:
(1) ASSESSMENTS. Voluntary assessments paid by property owners in an authority created pursuant to this chapter.
(2) AUTHORITY. A Local Neighborhood Infrastructure Authority formed by homeowners or business owners pursuant to this chapter, exercising the powers granted in this chapter.
(3) BOARD. The board of directors of an authority.
(4) MUNICIPALITY. The municipality within which homeowners or business owners form an authority, and which must give approval for the formation of an authority and appoint a board of trustees to administer the authority.
(5) INFRASTRUCTURE PROJECT or PROJECT. An infrastructure project that would allow homeowners and business owners located in an authority to make certain improvements, additions, and upgrades to streets and utilities in their local neighborhoods. Infrastructure projects shall include, but not be limited to, the following:
a. Resurfacing existing streets.
c. Sewer installation.
d. Fire protection (i.e., hydrants and mains).
e. Domestic water service.
f. Underground utilities.
g. Concrete curb and gutter.
h. Drainage improvements.
i. Paving dirt roads.
j. Engineering and consulting and associated costs for financing fees.