Section 11-7-56 - Purchase or lease of existing buildings in lieu of new construction for housing project

11-7-56. Purchase or lease of existing buildings in lieu of new construction for housing project.In order to conserve the existing housing supply, a commission is authorized to purchase or lease or otherwise acquire existing buildings for low-rent housing whenever this is feasible, in lieu of new construction. All provisions of this chapter relating to other low-rent housing projects shall be applicable to such projects. Source: SL 1950 (SS), ch 13, §17; SDC Supp 1960, §45.3617.