Indiana § 36-7-38-9 - Objectives
Full text of Indiana Indiana Code § 36-7-38-9 — Objectives, with citation guidance and answers to common questions.
§ 36-7-38-9. Objectives
Sec. 9. (a) A land bank shall endeavor to acquire a diverse portfolio of properties to enable the land bank to dispose of diverse properties in diverse real estate markets in the county or municipal territory that the land bank serves and, thereby, generate revenue for the land bank in a sustainable manner. A land bank shall acquire property for the purpose of supporting the mission of the land bank.
(b) A land bank's priorities concerning the disposition of properties from the land bank must support the mission of the land bank, which includes the sale or transfer of properties:
(1) for redevelopment that will act as a catalyst for further development;
(2) that support a comprehensive development plan or strategic plan for neighborhood revitalization;
(3) that reduce blight in the community;
(4) that revitalize or stabilize neighborhoods;
(5) that will be returned to productive, tax paying status;
(6) that will be returned to productive uses, including development of side lots, green spaces, and gardens;
(7) that are available for immediate ownership or occupancy without a need for substantial rehabilitation;
(8) that will be used for affordable housing; or
(9) that will generate operating support for the functions of a land bank.
As added by P.L.211-2016, SEC.1.
Frequently Asked Questions About Indiana § 36-7-38-9
What does Indiana Code § 36-7-38-9 cover?
Section 36-7-38-9 ("Objectives") is part of the Indiana Code, the codified statutory law of Indiana. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Indiana § 36-7-38-9?
A common citation format is "Indiana Code § 36-7-38-9" (Indiana). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Indiana law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Indiana official source linked on this page or consult a licensed Indiana attorney.
How does Indiana § 36-7-38-9 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Indiana can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Indiana.