Indiana § 36-7-15.1-65 Residential housing development program; commission powers and
duties

Indiana Statutes

§ 36-7-15.1-65 — Residential housing development program; commission powers and duties

Indiana § 36-7-15.1-65

Title 36LOCAL GOVERNMENT

Art. 7PLANNING AND DEVELOPMENT

Ch. 15.1Redevelopment of Areas in Marion County Needing

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Bluebook

Ind. Code § 36-7-15.1-65 (2026).

Text

(a)This section applies only to a residential housing development program established under section 64 of this chapter.

(b)Except as provided in subsections (c) and (d), all the rights, powers, privileges, and immunities that may be exercised by the commission in blighted, deteriorated, or deteriorating areas may be exercised by the commission in implementing a residential housing development program, including the following:

(1)The special tax levied in accordance with section 19 of this chapter may be used to accomplish the purposes of the program.

(2)Bonds may be issued under this chapter to accomplish the purposes of the program, but only one (1) issue of bonds may be issued and payable from increments in any allocation area established under section 64 of this chapter, except for

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(a) This section applies only to a
residential housing development program established under section 64
of this chapter.
(b) Except as provided in subsections (c) and (d), all the rights,
powers, privileges, and immunities that may be exercised by the
commission in blighted, deteriorated, or deteriorating areas may be
exercised by the commission in implementing a residential housing
development program, including the following:
(1) The special tax levied in accordance with section 19 of this
chapter may be used to accomplish the purposes of the program.
(2) Bonds may be issued under this chapter to accomplish the
purposes of the program, but only one (1) issue of bonds may be
issued and payable from increments in any allocation area
established under section 64 of this chapter, except for refunding
bonds or bonds issued in an amount necessary to complete a
residential housing development program for which bonds were
previously issued.
(3) Leases may be entered into under this chapter to accomplish
the purposes of the program.
(4) The tax exemptions set forth in section 25 of this chapter are
applicable.
(5) Property taxes may be allocated under section 26 of this
chapter.
(c) The commission may not exercise the power of eminent domain
in implementing a residential housing development program.
(d) The commission may not enter into lease financing or bond
financing unless the commission first obtains approval of the
legislative body of the consolidated city.
(e) The residential housing in a residential housing development
program may not be encumbered, used as collateral, subjected to a
monetary assessment, or otherwise restricted in any way in order to
provide security for repayment of a bond that is issued or a lease that
is entered into for or in connection with the program, including any:
(1) lien;
(2) mortgage;
(3) covenant;
(4) special assessment; or
(5) restriction on a homeowner's right to appeal a property tax
assessment or other property tax issue affecting a homeowner's
liability for property taxes.