Indiana Code 36-7-15.1-4.3. Prohibition regarding single family residential property
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Sec. 4.3. Notwithstanding any other provision in this chapter, after June 30, 2014:
(2) a department of redevelopment; or
(1) a redevelopment commission;
Terms Used In Indiana Code 36-7-15.1-4.3
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: includes personal and real property. See Indiana Code 1-1-4-5
(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.
As added by P.L.149-2014, SEC.33.