Louisiana Revised Statutes 40:600.39 – Designation of qualified rehabilitation entity
Terms Used In Louisiana Revised Statutes 40:600.39
- Court: means the district court, city court, parish court, or municipal court with jurisdiction for the local governmental subdivision in which the blighted housing property is located. See Louisiana Revised Statutes 40:600.33
- Governing authority: means the body which exercises the legislative functions of the local governmental subdivision. See Louisiana Revised Statutes 40:600.33
- Local governmental subdivision: means any parish or municipality. See Louisiana Revised Statutes 40:600.33
- Owner: means the holder or holders of title to a blighted housing property. See Louisiana Revised Statutes 40:600.33
- Qualified rehabilitation entity: means any person or entity designated by the local governmental subdivision or the state housing agency on the basis of having demonstrated knowledge and substantial experience in the construction or rehabilitation of residential housing properties, the provision of affordable housing, the restoration of blighted property, the revitalization and improvement of neighborhoods and that is well qualified by virtue of its staff, professional consultants, financial resources, and prior activities to carry out the rehabilitation of blighted residential housing properties. See Louisiana Revised Statutes 40:600.33
- Receivership: means the judicially established framework for real property interest which is created by the court with respect to a blighted housing property pursuant to which a receiver is designated to preserve, rehabilitate, restore, and operate the blighted housing property. See Louisiana Revised Statutes 40:600.33
- Rehabilitation plan: means (a) a renovation or rehabilitation plan for a blighted housing property approved by the local governmental subdivision that is consistent with any neighborhood redevelopment strategy, preserves the historic integrity of the residential housing property and restores such property to minimum habitability standards based upon (i) a physical condition assessment identifying components of the blighted housing property requiring repair, replacement, or improvement to restore the property to minimum habitability standards in a cost- effective manner, (ii) an estimate and certificate of costs executed by a public officer, including a schedule of values executed by a contractor committed to complete the repairs, replacements, or improvements identified in the physical condition assessment within the estimate of costs, (iii) evidence of funding commitments from government or commercial lenders sufficient to finance all costs identified in the estimate and certificate of costs, and (iv) a tentative timetable evidencing the time frame within which the rehabilitation plan may be completed, (b) an operating budget, including any required or permitted capital recovery payment, and (c) a receivership term. See Louisiana Revised Statutes 40:600.33
A. A local governmental subdivision may exercise its rights pursuant to La. Rev. Stat. 40:600.38 directly or may designate a qualified rehabilitation entity to act as its designee for the purpose of exercising the local governmental subdivision’s rights where that designation will further the rehabilitation and reuse of the property consistent with the rehabilitation plan. This designation shall be made by resolution of the governing authority.
B. Assignment of receivership by local governmental subdivision to a qualified rehabilitation entity. Where the local governmental subdivision has been granted possession by the court in the name of the local governmental subdivision, the local governmental subdivision may seek the approval of the court to assign its rights to another entity, which approval shall be granted by the court when it finds that the entity to which the local governmental subdivision’s rights will be assigned is a qualified rehabilitation entity and the assignment will further the purposes of this Chapter.
C. Reports. Where a local governmental subdivision has designated a qualified rehabilitation entity to act on its behalf, the qualified rehabilitation entity shall provide quarterly reports to the local governmental subdivision on its activities and progress toward rehabilitation and reuse of the property. The local governmental subdivision or qualified rehabilitation entity, as the case may be, shall provide such reports to the court as the court determines to be necessary. If the court finds that the local governmental subdivision or its designee have failed to take diligent action toward rehabilitation of the property within six months from the grant of possession, then the court may request the local governmental subdivision to designate another qualified rehabilitation entity to exercise its rights, or if the local governmental subdivision fails to do so, may terminate the receivership and return the property to its owner.
Acts 2006, No. 355, §1, eff. June 13, 2006.