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2007 SESSION

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HB 2009 Housing Authorities Law; exercise of eminent domain authority & compensation for certain landowners.

Introduced by: Terrie L. Suit | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

Housing Authorities Law; exercise of eminent domain authority; compensation for certain landowners.  Provides that when property that is not blighted property has been acquired pursuant to a redevelopment or conservation plan by an authority through the exercise of the power of eminent domain and is subsequently sold to a private entity, then the owner of such property will receive additional compensation in the amount of 50 percent of the net gain realized by the authority.


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