§201H-12  Development of property.  (a) 
The corporation, in its own behalf or on behalf of any federal, state, or
county agency, may:



(1)  Clear, improve, and rehabilitate property;



(2)  Plan, develop, construct, and finance housing
projects; and



(3)  In cooperation with the department of education
and department of accounting and general services, plan educational facilities
and related infrastructure as a necessary and integral part of its housing
projects, using all its innovative powers toward achieving that end
expeditiously and economically; provided that the educational facilities comply
with the department of education's educational specifications, timelines, and
siting requirements.



(b)  The corporation may develop public land in
an agricultural district subject to the prior approval of the land use
commission, when developing lands greater than fifteen acres in size, and
public land in a conservation district subject to the prior approval of the
board of land and natural resources.  The corporation shall not develop state
monuments, historical sites, or parks.  When the corporation proposes to
develop public land, it shall file with the department of land and natural
resources a petition setting forth the purpose for the development.  The petition
shall be conclusive proof that the intended use is a public use superior to
that which the land has been appropriated.



(c)  The corporation may develop or assist in
the development of federal lands with the approval of appropriate federal
authorities.



(d)  The corporation shall not develop any
public land where the development may endanger the receipt of any federal
grant, impair the eligibility of any government agency for a federal grant,
prevent the participation of the federal government in any government program,
or impair any covenant between the government and the holder of any bond issued
by the government.



(e)  The corporation may contract or sponsor
with any county, housing authority, or person, subject to the availability of
funds, an experimental or demonstration housing project designed to meet the
needs of elders; the disabled; displaced or homeless persons; low- and
moderate-income persons; teachers or other government employees; or university
and college students and faculty. [L 2005, c 196, pt of §20; am L 2006, c 180, §10]