§ 36-7-15.1-42 — Approval of real property to be acquired; negotiations for purchase; methods and means of acquisition

Indiana § 36-7-15.1-42

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

Text

(a) If no appeal is taken, or if an appeal is
taken but is unsuccessful, the commission shall proceed with the
proposed project, to the extent that money is available for that purpose.
(b) The commission shall first approve and adopt a list of the real
property and interests in real property to be acquired and the price to
be offered to the owner of each parcel or interest. The prices to be
offered may not exceed the average of two (2) independent appraisals
of fair market value procured by the commission, except that appraisals
are not required in transactions with other governmental agencies.
However, if the real property is less than five (5) acres in size and the
fair market value of the real property or interest has been appraised by
one (1) independent appraiser at less than ten thousand dollars
($10,000), the second appraisal may be made by a qualified employee
of the department. The prices indicated on the list may not be exceeded
unless specifically authorized by the commission under section 39 of
this chapter or ordered by a court in condemnation proceedings. The
commission may except from acquisition any real property in the area
if it finds that such an acquisition is not necessary under the
redevelopment plan. Appraisals made under this section are for the
information of the commission and are not open for public inspection.
(c) Negotiations for the purchase of property may be carried on
directly by the commission, by its employees, or by expert negotiators
employed for that purpose. The commission shall adopt a standard
form of option for use in negotiations, but no option, contract, or
understanding relative to the purchase of real property is binding on the
commission until approved and accepted by the commission in writing.
The commission may authorize the payment of a nominal fee to bind
an option and as a part of the consideration for conveyance may agree
to pay the expense incident to the conveyance and determination of the
title of the property. Payment for the property purchased shall be made
when and as directed by the commission, but only on delivery of proper
instruments conveying the title or interest of the owner to "City [or
Town] of ___________ for the use and benefit of its Redevelopment
District".
(d) Notwithstanding subsections (a) through (c), the commission
may, before the time referred to in this section, accept gifts of property
needed for the redevelopment of redevelopment project areas. The
commission may, before the time referred to in this section, take
options on or contract for the acquisition of property needed for the
redevelopment of redevelopment project areas if the options and
contracts are not binding on the commission or the redevelopment
district until the time referred to in this section and until money is
available to pay the consideration set out in the options or contracts.
(e) Section 44(a) through 44(h) of this chapter does not apply to
exchanges of real property (or interests in real property) in connection
with the acquisition of real property (or interests in real property) under
this section. In acquiring real property (or interests in real property)
under this section the commission may, as an alternative to offering
payment of money as specified in subsection (b), offer for the real
property (or interest in real property) that the commission desires to
acquire:
(1) exchange of real property or interests in real property owned
by the redevelopment district;
(2) exchange of real property or interests in real property owned
by the redevelopment district, along with the payment of money
by the commission; or
(3) exchange of real property or interests in real property owned
by the redevelopment district along with the payment of money by
the owner of the real property or interests in real property that the
commission desires to acquire.
The commission shall have the fair market value of the real property or
interests in real property owned by the redevelopment district appraised
as specified in section 44(b) of this chapter. The appraisers may not
also appraise the value of the real property or interests in real property
to be acquired by the redevelopment district. The commission shall
establish the nature of the offer to the owner based on the difference
between the average of the two (2) appraisals of the fair market value
of the real property or interests in real property to be acquired by the
commission and the average of the appraisals of fair market value of
the real property or interests in real property to be exchanged by the
commission.

Legislative History

As added by P.L.102-1999, SEC.9. Amended by P.L.185-2005, SEC.44.