Ind. Code § 36-7-15.1-4.3

Current through P.L. 171-2024

Section 36-7-15.1-4.3 - Prohibition regarding single family residential property

Notwithstanding any other provision in this chapter, after June 30, 2014:

(1) a redevelopment commission;

(2) a department of redevelopment; or

(3) any other entity:

(A) established by the commission or department; or

(B) controlled by the commission or a member of the commission regardless of any pecuniary interest the member may have;

may not own, lease, or otherwise hold a single family dwelling or condominium unit for purposes of leasing for the use by individuals as a dwelling. In addition, an arrangement or agreement that is contrary to this section may not be extended beyond the term of the arrangement or agreement as in effect on June 30, 2014. However, a commission, department, or entity covered by this section may own property in the capacity of a land bank for a unit.

IC 36-7-15.1-4.3

Added by P.L. 149-2014, SEC. 33, eff. 7/1/2014.