(1) In a municipality with a population in excess of one hundred forty-five thousand (145,000), according to the 2020 United States Census, the Urban Renewal Authority and the Parking Authority with oversight of the Jackson Redevelopment Authority (JRA) are authorized to apply for grants under this chapter and to enter into agreements and take actions necessary to carry out site demolition and site preparation for the purposes of urban renewal. Funds shall be used exclusively for site preparation and property cleanup with oversight of the funds from the Jackson Redevelopment Authority.
(2) All applications and projects under this section shall be conducted under the oversight and coordination of the Jackson Redevelopment Authority (JRA).
(3) The corporation shall promulgate such rules, guidelines, forms, and regulations as may be necessary to administer the grant program.
(4) Grants may be awarded in amounts not exceeding Two Thousand Dollars ($2,000.00) per project. The corporation shall establish a maximum grant amount to ensure equitable access to funding.
(5) No more than fifteen (15) grants may be awarded per calendar year to any municipality or authority.