Indiana Code 8-23-17-7. “Adequate replacement dwelling” defined
(1) at least comparable in essential accommodations and value to the dwelling acquired by the agency;
Terms Used In Indiana Code 8-23-17-7
- agency: means a department, board, commission, office, or instrumentality of the state, including a state supported college or university, or of a political subdivision of the state. See Indiana Code 8-23-17-1
- dwelling: means any room, suite of rooms, apartment, trailer, or house occupied or intended to be occupied as a personal residence by one (1) family or by one (1) or more individuals utilizing the same kitchen facilities. See Indiana Code 8-23-17-6
(3) located in an area not generally less desirable than the area in which the dwelling acquired by the agency is located, in regard to public utilities and public and commercial facilities;
(4) reasonably accessible to the principal place of employment of the head of the household;
(5) available for purchase or rental on the private market; and
(6) available for purchase or rental at a price or rent within the financial means of the displaced person. A dwelling available for purchase is considered to be within the financial means of a person only if, after taking into account that part of the acquisition cost paid to the displaced person plus any payment made under section 16 or 17 of this chapter, a loan commitment may be obtained from a lending institution, with or without the aid of any federal or other program of loan insurance, in the principal amount equal to the balance of the purchase price of the replacement dwelling.
As added by P.L.18-1990, SEC.226.