Sec. 11. If a municipal or county executive submits an application requesting an area to be designated as a district under this chapter, the advisory commission on industrial development shall do the following:
(1) Compile information necessary to make a determination concerning whether the area meets the conditions necessary for designation as a district.
(2) Prepare maps showing the boundaries of the proposed district.
(3) Prepare a plan describing the ways in which the development obstacles described in section 12(b)(3), 12(c), 12(d), 12(e), or 12.1(a) of this chapter in the proposed district will be addressed.