Notwithstanding any other provision in this chapter, after June 30, 2014:(1) a redevelopment commission;(2) a department of redevelopment; or(3) any other entity:(A) established by the commission or department; or(B) controlled by the commission or a member of the commission regardless of any pecuniary interest the member may have;may not own, lease, or otherwise hold a single family dwelling or condominium unit for purposes of leasing for the use by individuals as a dwelling. In addition, an arrangement or agreement that is contrary to this section may not be extended beyond the term of the arrangement or agreement as in effect on June 30, 2014. However, a commission, department, or entity covered by this section may own property in the capacity of a land bank for a unit.As added by P.L.149-2014, SEC.7.
Indiana Legal Code