§ 36-7-14-50 — Powers of commission in implementing age-restricted housing program

(a) Except as provided in subsection (b), all
the rights, powers, privileges, and immunities that may be exercised by
a commission in blighted, deteriorated, or deteriorating areas may be
exercised by a commission in implementing its program for
age-restricted housing, including the following:
(1) The special tax levied in accordance with section 27 of this
chapter may be used to accomplish the purposes of the
age-restricted housing program.
(2) Bonds may be issued under this chapter to accomplish the
purposes of the age-restricted housing program, but only one (1)
issue of bonds may be issued and payable from increments in any
allocation area established under section 49 of this chapter, except
for refunding bonds or bonds issued in an amount necessary to
complete an age-restricted housing program for which bonds were
previously issued.
(3) Leases may be entered into under this chapter to accomplish
the purposes of the age-restricted housing program.
(4) The tax exemptions set forth in section 37 of this chapter are
applicable.
(5) Property taxes may be allocated under section 39 of this
chapter.
(b) A commission may not exercise the power of eminent domain
in implementing its age-restricted housing program.

Legislative History

As added by P.L.7-2013, SEC.2. Amended by P.L.2-2014, SEC.120.