IC 36-7-18-16 — Housing projects; authorization; limitations
Chapter 18. Housing Authorities
Bills amending this section
Section text
Sec. 16. (a) A housing authority may: (1) prepare, carry out, acquire, lease, and operate housing projects; and (2) provide for the construction, reconstruction, improvement, alteration, or repair of all or part of a housing project. (b) Notwithstanding subsection (a), a housing project may not be built if the average construction cost, exclusive of the cost of land, demolition, and nondwelling facilities, is more than: (1) four thousand dollars ($4,000) per room; (2) fifteen thousand dollars ($15,000) per room, if the accommodations are designed specifically for persons of low income who: (A) have attained the age at which they may elect to receive old age benefits under Title 2 of the Social Security Act (42 U.S.C. 401-433); or (B) are under disability (as defined in Section 223 of that Act (42 U.S.C. 423)); or (3) any greater amount established by the federal government as the basis for computing any of its annual contributions. (c) Notwithstanding subsection (b), if the housing authority finds that: (1) compliance with the cost limitations in subsection (b) would require the sacrifice of sound standards of construction, design, and livability in a project; and (2) there is an acute need for the proposed housing; it may exceed the cost limitation that would otherwise be applicable under subsection (b) by not more than an amount necessary to make the project financially feasible.
As added by Acts 1981, P.L.309, SEC.37. Amended by P.L.309-1989, SEC.1; P.L.255-1996, SEC.27; P.L.73-2026, SEC.29.
Source: official publisher (2026 edition)