(1) An agency shall comply with the provisions of this section before the agency may use eminent domain to acquire property under Chapter 1, Part 9, Eminent Domain.
(2) An agency shall, after adopting a survey area resolution as described in Section 17C-5-103:
(a) cause a development impediment study to be conducted within the survey area in accordance with Section 17C-5-403;
(b) provide notice and hold a development impediment hearing in accordance with Chapter 1, Part 8, Hearing and Notice Requirements; and
(c) after the development impediment hearing, at the same or at a subsequent meeting:
(i) consider the evidence and information relating to the existence or nonexistence of a development impediment; and
(ii) by resolution, make a determination regarding whether a development impediment exists in all or part of the survey area.