Pennsylvania Statutes Title 35 P.S. Health and Safety § 1550.1. Undertakings constituting mixed-use projects

Without limiting the powers set forth in section 10,  1 an Authority shall have the power to do all acts that are necessary, convenient or useful to the development or operation of one or more mixed-use projects, including, with the approval of the municipality in which the Authority lies, the power to plan, design, locate, acquire through purchase, the exercise of powers under 26 Pa.C.S. (relating to eminent domain) or otherwise, hold, construct, finance, improve, maintain, operate, own or lease, either in the capacity of lessor or lessee, land, buildings, other structures and personal property necessary, convenient or useful to the development or operation of a mixed-use project. An Authority shall have the power to finance mixed-use projects by borrowing money, making and issuing bonds, governmental and private activity, or other obligations, and making loans which may be evidenced by and secured as may be provided in loan agreements, mortgages, security agreements, or any other contracts, instruments or agreements, which may contain such provisions as the Authority shall deem necessary, convenient or useful for the security or protection of the Authority or its bondholders, except that in no instance may money designated for use on the housing component of a mixed-use project be utilized in a manner inconsistent with its purpose. Any Authority under this section may pledge, mortgage, hypothecate or otherwise encumber all or any part of its property, real or personal, constituting all or part of a mixed- use project, including, but not limited to, the revenues or receipts of the Authority from one or more mixed-use projects, for all or any of the obligations, including bonds, of the Authority incurred in connection with the development or operation of a mixed-use project. Nothing in this section shall be construed to expand the eminent domain power of an Authority beyond that permitted under 26 Pa.C.S.