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(a)(1) Any corporation which is an agency of the United States of America shall have the right to acquire by eminent domain any real property, including improvements and fixtures thereon, which it may deem necessary for a housing project being constructed, operated, or aided by it or the United States of America.
(2) Any corporation borrowing money or receiving other financial assistance from the United States of America, or any agency thereof, for the purpose of financing the construction or operation of any housing project, the operation of which will be subject to public supervision or regulation, shall have the right to acquire by eminent domain any real property, including fixtures and improvements thereon, which it may deem necessary for the project.
(3) A housing project shall be deemed to be subject to public supervision or regulation within the meaning of this section, § 18-15-1501, and § 18-15-1502 if the rents to be charged are in any way subject to the supervision, regulation, or approval of the United States of America, the state or any of their subdivisions or agencies, or by a housing authority, city, municipality, or county, whether the right to supervise, regulate, or approve is by virtue of any law, statute, contract, or otherwise.
(b) Any corporate agency of the United States of America or any such corporation, upon the adoption of a resolution declaring that the acquisition of the property described therein is in the public interest and necessary for public use, may exercise the power of eminent domain:
(1) In the manner now provided for taking private property for rights-of-way for railroads as provided by §§ 18-15-1202--18-15-1207;
(2) In the manner provided for condemnation by municipal corporations and counties as provided by §§ 18-15-301--18-15-307; or
(3) Pursuant to any other applicable statutory provision enacted for the exercise of the power of eminent domain.
Cite this article: FindLaw.com - Arkansas Code Title 18. Property § 18-15-1503. Federal housing projects--Authorization - last updated January 01, 2020 | https://codes.findlaw.com/ar/title-18-property/ar-code-sect-18-15-1503/
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