(a)General rule.--An administrative entity may acquire real property to lease to start-up entrepreneurs who receive a microenterprise loan under the program in the following manners:
(1)An administrative entity may acquire real property by purchase contracts, lease purchase agreements, installment sales contracts and land contracts and may accept transfers from municipalities upon terms and conditions as agreed to by the administrative entity and the municipality.
(2)A municipality may transfer to an administrative entity real property and interests in real property of the municipality on terms and conditions and according to procedures determined by the municipality so long as the real property is located within the jurisdiction of the municipality.
(3)A redevelopment authority may
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(a) General rule.--An administrative entity may acquire real property to lease to start-up entrepreneurs who receive a microenterprise loan under the program in the following manners:
(1) An administrative entity may acquire real property by purchase contracts, lease purchase agreements, installment sales contracts and land contracts and may accept transfers from municipalities upon terms and conditions as agreed to by the administrative entity and the municipality.
(2) A municipality may transfer to an administrative entity real property and interests in real property of the municipality on terms and conditions and according to procedures determined by the municipality so long as the real property is located within the jurisdiction of the municipality.
(3) A redevelopment authority may, with the consent of the local governing body and without a redevelopment contract, convey property which the redevelopment authority acquired before the effective date of this paragraph to the administrative entity. A conveyance under this paragraph shall be with fee simple title, free of all liens and encumbrances.
(4) An administrative entity may, if authorized by the jurisdiction that created an authority or otherwise by intergovernmental cooperation agreement, accept donations of real property and extinguish delinquent claims for taxes as to the property under section 5.1 of the act of May 16, 1923 (P.L.207, No.153), referred to as the Municipal Claim and Tax Lien Law, or section 303 of the act of July 7, 1947 (P.L.1368, No.542), known as the Real Estate Tax Sale Law. For the purposes of this paragraph, the administrative entity shall have all rights and obligations of the municipality provided for in section 5.1 of the Municipal Claim and Tax Lien Law.
(5) Notwithstanding any other provision of law to the contrary, if a tax-delinquent property offered at judicial sale is not sold, the trustee may donate the property to an administrative entity for the purpose of this chapter after written notification of the transfer to all interested parties.
(b) Title to be held in its name.--An administrative entity shall hold in its own name all real property it acquires to administer the microenterprise program under this chapter.