63N-23-803. Allowable uses of funds.
(1) A local government shall use any funds or revenue provided under Sectionwithin and for the direct benefit of the project area, and subject to the requirements of this section. 59-12-402.5
(2) In addition to the requirements of Subsection, the allowable uses for the funds and revenue collected as authorized under this part are: (1) costs for, including debt service or the costs of bonds issued by the local government or state: paid to or for the benefit of a project participant for the construction or remodel of a qualified stadium within the project area in accordance with Title 17C, Chapter 1, Part 5, Agency Bonds, including the cost to issue and repay bonds and interest; and the construction, demolition, modification, or realignment of infrastructure or structures within the project area for the purpose of: complementing a qualified stadium and the qualified stadium's associated uses, including entertainment and recreational uses on land within the project area; and improvement, demolition, modification, realignment, or restoration of areas within the project area for pedestrian and traffic flow, and for aesthetic, entertainment, recreational, and safety purposes; infrastructure and roads, including state roads, within the project area; traffic mitigation costs within the project area; law enforcement or public security needs within the project area; land acquisition costs; commercial development, housing development, and parking infrastructure within the project area; and costs of the local government to create a project area or participation agreement and to administer the funds, which cost may not exceed 1% of the tax revenue collected under Section. 59-12-402.5
(3) The amount of funds and revenue used for, or for the benefit of, the project participant shall be limited to a maximum dollar amount that shall be explicitly stated in the participation agreement. A project participant may not receive the benefit of funds or revenue in an amount greater than the maximum dollar amount referred to in Subsection. (3)(a)