15-6-504. Petition -- approval or denial by local government -- compelling need for senior care and housing development project. (1) A tax-exempt senior care and housing sponsor may file a petition with a local government requesting preapproval of a property tax exemption for a senior care and housing development project. The petition must include sufficient information regarding property development, including the buildings, land, equipment, facilities, or other real or personal properties that are necessary, convenient, related, or desirable in connection with the development of senior care facilities and housing, including but not limited to streets, sewers, utilities, parks, site preparation, landscaping, and other nonhousing facilities that the tax-exempt senior care and housing sponsor determines to be necessary, convenient, related, or desirable.

(2) Upon the filing of the petition, the local government shall give notice of the time, place, and purpose of a public hearing at which the governing body of the local government shall determine whether there is a need for the senior care and housing development project.

(3) If the governing body determines there is a compelling need for the senior care and housing development project, it shall adopt a resolution approving the petition. If the governing body approves the petition, the tax-exempt senior care and housing sponsor may apply for a property tax exemption pursuant to 15-6-506 within 2 years after the approval.

(4) If the governing body, after a hearing, determines that there is not a compelling need for a senior care and housing development project, it shall adopt a resolution denying the petition. After 3 months have expired following the date of the denial of a petition, subsequent petitions may be filed, and new hearings and determinations may be made on the petitions.