Indiana Code 21-17-6-7. Implementation of redevelopment plan; qualified entity powers
(1) acquire by purchase, gift, grant, condemnation, or lease any real estate, interests in real estate, or personal property within the project area or needed for the redevelopment of the project area;
Terms Used In Indiana Code 21-17-6-7
- Contract: A legal written agreement that becomes binding when signed.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- 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
(3) repair and maintain existing structures to be included in the redevelopment plan;
(4) erect new structures or make major structural improvements on existing buildings; and
(5) sell, lease, or grant parts of the land acquired for redevelopment purposes to the municipality or other governmental agency for street, boulevard, levee, sewerage, park, playground, school, and other public purposes:
(A) on terms and conditions; and
(B) with or without compensation;
as agreed upon.
[Pre-2007 Higher Education Recodification Citation: 20-12-15-4.]
As added by P.L.2-2007, SEC.258.