Sec. 3. (a) A unit having an agency may appropriate money to the agency for the purpose of making rehabilitation loans and administering this chapter.

     (b) The unit, through its agency, may use federal monies that it receives for these purposes and monies that it receives as a result of the sale or lease of property to which it has held title as a result of failure to comply with the terms of a loan or grant made under this chapter.

Terms Used In Indiana Code 36-7-16-3

  • Agency: refers to the department of metropolitan development in a county having a consolidated city, the works board in second class cities, and the department of redevelopment in other units. See Indiana Code 36-7-16-2
  • Home: means a residential building containing no more than four (4) family dwelling units. See Indiana Code 36-7-16-2
  • 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
     (c) A unit, through its agency, may make home rehabilitation grants to bona fide homeowners, if the monies used for these grants are received only from federal grants and are appropriated under the terms and regulations of the granting federal entity. Federal grants that may be used under this subsection include monies appropriated to units under the 1974 Community Development Act, as amended (42 U.S.C. sections 5301-5318).

[Pre-Local Government Recodification Citation: 18-7-7.5-2 part.]

As added by Acts 1981, P.L.309, SEC.35.

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