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Current as of January 02, 2024 | Updated by FindLaw Staff
Sec. 3. (a) The fiscal body of a unit may by ordinance designate an agency or quasi-public corporation, or establish a new agency, to administer an urban homesteading program under which a dwelling for one (1) to four (4) families may be conveyed to individuals who must:
(1) occupy and rehabilitate the dwelling;
(2) use a rehabilitation loan to finance both:
(A) the purchase of the dwelling and the real property on which it is located in a sale under this chapter; and
(B) the rehabilitation of the dwelling; and
(3) comply with the program regulations set forth in 24 CFR 203.50 and 24 CFR 203.440 et seq., with respect to the rehabilitation loan described in subdivision (2).
(b) If the fiscal body of a unit has adopted an ordinance under IC 36-7-17-2 to:
(1) designate an agency or quasi-public corporation; or
(2) establish an agency;
to administer an urban homesteading program under IC 36-7-17, the fiscal body of the unit may designate the same agency or quasi-public corporation designated or established under the ordinance adopted under IC 36-7-17-2 to administer an urban homesteading program under this chapter.
Cite this article: FindLaw.com - Indiana Code Title 36. Local Government § 36-7-17.1-3 - last updated January 02, 2024 | https://codes.findlaw.com/in/title-36-local-government/in-code-sect-36-7-17-1-3/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
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