§ 36-7-18-16 — Housing projects; authorization; limitations

(a) A housing authority may:
(1) prepare, carry out, acquire, lease, and operate housing
projects; and
(2) provide for the construction, reconstruction, improvement,
alteration, or repair of all or part of a housing project.
(b) Notwithstanding subsection (a), a housing project may not be
built if the average construction cost, exclusive of the cost of land,
demolition, and nondwelling facilities, is more than:
(1) two thousand dollars ($2,000) per room;
(2) ten thousand dollars ($10,000) per room, if the
accommodations are designed specifically for persons of low
income who:
(A) have attained the age at which they may elect to receive old
age benefits under Title 2 of the Social Security Act (42 U.S.C.
401-433); or
(B) are under disability (as defined in Section 223 of that Act
(42 U.S.C. 423)); or
(3) any greater amount established by the federal government as
the basis for computing any of its annual contributions.
(c) Notwithstanding subsection (b), if the housing authority finds
that:
(1) compliance with the cost limitations in subsection (b) would
require the sacrifice of sound standards of construction, design,
and livability in a project; and
(2) there is an acute need for the proposed housing;
it may exceed the cost limitation that would otherwise be applicable
under subsection (b) by not more than seven hundred fifty dollars
($750) per room.
[Pre-Local Government Recodification Citations:
18-7-11-8(b); 18-7-11-3(o).]
As added by Acts 1981, P.L.309, SEC.37. Amended by
P.L.309-1989, SEC.1; P.L.255-1996, SEC.27.