Section 36-7-18-16 - Housing projects; authorization; limitations(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) two thousand dollars ($2,000) per room;(2) ten thousand dollars ($10,000) 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 seven hundred fifty dollars ($750) per room.
Pre-Local Government Recodification Citations: 18-7-11-8(b); 18-7-11-3(o).
As added by Acts1981 , P.L. 309, SEC.37. Amended by P.L. 309-1989, SEC.1; P.L. 255-1996, SEC.27.