§ 36-7-15.1-15.1 — Grant or sale at no cost of real property to qualifying corporation for low or moderate income housing; notice and hearing

Indiana § 36-7-15.1-15.1

• Jurisdiction: Indiana
• Title 36: LOCAL GOVERNMENT
• Art. 7: PLANNING AND DEVELOPMENT
• Ch. 15.1: Redevelopment of Areas in Marion County Needing

Text

1. (a) As used in this section, "qualifying
corporation" refers to a nonprofit corporation or neighborhood
development corporation that meets the requirements of subsection
(b)(1) and the criteria established by the county fiscal body under
subsection (i).
(b) The commission may sell or grant at no cost title to real property
to a nonprofit corporation or neighborhood development corporation
for the purpose of providing low or moderate income housing or other
development that will benefit or serve low or moderate income families
if the following requirements are met:
(1) The nonprofit corporation or neighborhood development
corporation has, as a major corporate purpose and function, the
provision of housing for low and moderate income families within
the geographic area in which the parcel of property is located.
(2) The qualifying corporation agrees to cause development that
will serve or benefit low or moderate income families on the
parcel of property within a specified period, which may not
exceed five (5) years from the date of the sale or grant.
(3) The qualifying corporation, if the qualifying corporation is a
neighborhood development corporation, agrees that the qualifying
corporation and each applicant, recipient, contractor, or
subcontractor undertaking work in connection with the real
property will:
(A) use lower income project area residents as trainees and as
employees; and
(B) contract for work with business concerns located in the
project area or owned in substantial part by persons residing in
the project area;
to the greatest extent feasible, as determined under the standards
specified in 24 CFR 135.
(4) The county fiscal body has determined that the corporation
meets the criteria established under subsection (i).
(5) The qualifying corporation agrees to rehabilitate or otherwise
develop the property in a manner that is similar to and consistent
with the use of the other properties in the area served by the
qualifying corporation.
(c) To carry out the purposes of this section, the commission may
secure from the county under IC 6-1.1-25-9(e) parcels of property
acquired by the county under IC 6-1.1-24 and IC 6-1.1-25.
(d) Before offering any parcel of property for sale or grant, the fair
market value of the parcel of property must be determined. The fair
market value may be determined by an appraisal made by a qualified
employee of the department. However, if the qualified employee of the
department determines that:
(1) the property:
(A) is less than five (5) acres in size; and
(B) has a fair market value that is less than ten thousand dollars
($10,000); or
(2) if the commission has obtained the parcel in the manner
described in subsection (c);
an appraisal is not required. An appraisal under this subsection is solely
for the information of the commission and is not available for public
inspection.
(e) The commission must decide whether the commission will sell
or grant the parcel of real property at a public meeting. In making this
decision, the commission shall give substantial weight to the extent to
which and the terms under which the qualifying corporation will cause
development to serve or benefit families of low or moderate income. If
more than one (1) qualifying corporation is interested in acquiring a
parcel of real property, the commission shall conduct a hearing at
which a representative of each corporation may state the reasons why
the commission should sell or grant the parcel to that corporation.
(f) Before conducting a hearing under subsection (e), the
commission shall publish a notice in accordance with IC 5-3-1
indicating that at a designated time the commission will consider
selling or granting the parcel of real property under this section. The
notice must state the general location of the property, including the
street address if any, or a common description of the property other
than the legal description.
(g) If the county agrees to transfer a parcel of real property to the
commission to be sold or granted under this section, the commission
may conduct a hearing to sell or grant the parcel to a qualifying
corporation even though the parcel has not yet been transferred to the
commission. After the hearing, the commission may adopt a resolution
directing the department to take appropriate steps necessary to acquire
the parcel from the county and to transfer the parcel to the qualifying
corporation.
(h) A conveyance of property to a qualifying corporation under this
section shall be made in accordance with section 15(i) of this chapter.
(i) The county fiscal body shall establish criteria for determining the
eligibility of nonprofit corporations and neighborhood development
corporations for sales or grants of real property under this section. A
nonprofit corporation or neighborhood development corporation may
apply to the county fiscal body for a determination concerning the
corporation's compliance with the criteria established under this
subsection.

Legislative History

As added by P.L.14-1991, SEC.19. Amended by P.L.31-1994, SEC.20; P.L.39-1994, SEC.26; P.L.2-1995, SEC.133; P.L.86-1999, SEC.3; P.L.177-2003, SEC.10.