(a) In the event that the local governing body elects to participate in the program under this chapter, the authority shall hold in its name any tax delinquent properties within the territorial jurisdiction of the local governing body which have been sold to the state due to a three-year tax delinquency.
(b) Eligible delinquent property shall be limited to parcels of less than one acre and parcels with at least five years of tax delinquency.
(c) To be eligible to purchase tax delinquent properties, buyers must redevelop, sell, or donate their property within a two-year time frame.
(d) The authority shall administer tax delinquent properties acquired by it as follows:
(1) All tax delinquent property acquired by the authority shall be inventoried and appraised and the inventory shall be maintained as a public record.
(2) The authority shall organize and classify such properties on the basis of suitability for use.
(3) The authority shall have the power to manage, maintain, protect, rent, lease, repair, insure, alter, sell, trade, exchange, or otherwise dispose of any tax delinquent property on terms and conditions determined in the sole discretion of the authority.
(a) In the event that the local governing body elects to participate in the program under this chapter, the authority shall hold in its name any tax delinquent properties within the territorial jurisdiction of the local governing body which have been sold to the state due to a three-year tax delinquency.
(b) Eligible delinquent property shall be limited to parcels of less than one acre and parcels with at least five years of tax delinquency.
(c) To be eligible to purchase tax delinquent properties, buyers must redevelop, sell, or donate their property within a two-year time frame.
(d) The authority shall administer tax delinquent properties acquired by it as follows:
(1) All tax delinquent property acquired by the authority shall be inventoried and appraised and the inventory shall be maintained as a public record.
(2) The authority shall organize and classify such properties on the basis of suitability for use.
(3) The authority shall have the power to manage, maintain, protect, rent, lease, repair, insure, alter, sell, trade, exchange, or otherwise dispose of any tax delinquent property on terms and conditions determined in the sole discretion of the authority.
(a) In the event that the local governing body elects to participate in the program under this chapter, the authority shall hold in its name any tax delinquent properties within the territorial jurisdiction of the local governing body which have been sold to the state due to a three-year tax delinquency.
(b) Eligible delinquent property shall be limited to parcels of less than one acre and parcels with at least five years of tax delinquency.
(c) To be eligible to purchase tax delinquent properties, buyers must redevelop, sell, or donate their property within a two-year time frame.
(d) The authority shall administer tax delinquent properties acquired by it as follows:
(1) All tax delinquent property acquired by the authority shall be inventoried and appraised and the inventory shall be maintained as a public record.
(2) The authority shall organize and classify such properties on the basis of suitability for use.
(3) The authority shall have the power to manage, maintain, protect, rent, lease, repair, insure, alter, sell, trade, exchange, or otherwise dispose of any tax delinquent property on terms and conditions determined in the sole discretion of the authority.
