Indiana Code 32-24-4.5-11. Acquisition of property in certain project areas
(1) that is located in only one (1) county;
Terms Used In Indiana Code 32-24-4.5-11
- Attorney: includes a counselor or other person authorized to appear and represent a party in an action or special proceeding. See Indiana Code 1-1-4-5
- condemnor: means a person authorized to exercise the power of eminent domain. See Indiana Code 32-24-4.5-2
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- parcel of real property: means real property that:
Indiana Code 32-24-4.5-3
- Property: includes personal and real property. See Indiana Code 1-1-4-5
- real property: include lands, tenements, and hereditaments. See Indiana Code 1-1-4-5
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- relocation costs: means relocation expenses payable in accordance with the federal Uniform Relocation Assistance Act (42 U. See Indiana Code 32-24-4.5-6
(3) in which a condemnor or its agents has acquired clear title to at least ninety percent (90%) of the parcels in the project area.
(b) As used in this section, “project area” means an area designated by a condemnor and the legislative body for the condemnor for economic development.
(c) Notwithstanding sections 7 and 8 of this chapter, a condemnor may acquire a parcel of real property by the exercise of eminent domain under this section only if all of the following conditions are met:
(1) The parcel of real property is not occupied by the owner of the parcel as a residence.
(2) The legislative body for the condemnor adopts a resolution by a three-fourths (3/4) vote that authorizes the condemnor to exercise eminent domain over a particular parcel of real property.
(d) A condemnor that acquires a parcel of real property through the exercise of eminent domain under this section shall compensate the owner of the parcel as follows:
(1) Payment to the owner equal to one hundred twenty five percent (125%) of the fair market value of the parcel as determined under IC 32-24-1.
(2) Payment of any other damages as determined under IC 32-24-1 and any loss incurred in a trade or business that is attributable to the exercise of eminent domain.
(3) Payment of the owner’s relocation costs, if any.
(e) The condemnor may not acquire a parcel of real property through the exercise of eminent domain under this section if the owner of the parcel demonstrates by clear and convincing evidence that:
(1) the location of the parcel is essential to the viability of the owner’s commercial activity and the payment of damages and relocation costs cannot adequately compensate the owner of the parcel; or
(2) the parcel is not necessary for the economic development project for which it is sought.
(f) The court shall award the payment of reasonable attorney‘s fees to the owner of a parcel in accordance with this chapter.
As added by P.L.163-2006, SEC.17. Amended by P.L.80-2020, SEC.8.