Section 24-9-2 – Purpose.
Section 24-9-2 Purpose. The Alabama Land Bank Authority is hereby created for the purpose of acquiring tax delinquent properties in order to foster the public purpose of rehabilitating land which is in a nonrevenue-generating, nontax-producing status to an effective utilization status in order to provide housing, new industry, new commercial and economic development, other productive […]
Section 24-10-8 – Alabama Housing Trust Fund Advisory Committee – Composition; Expenses; Staff.
Section 24-10-8 Alabama Housing Trust Fund Advisory Committee – Composition; expenses; staff. (a) There is created the Alabama Housing Trust Fund Advisory Committee for the purpose of advising the Director of ADECA and staff of the department with respect to the Alabama Housing Trust Fund. (b) The membership of the advisory committee shall be inclusive […]
Section 24-9-3 – Eminent Domain.
Section 24-9-3 Eminent domain. The authority does not have the power of eminent domain. (Act 2009-738, p. 2203, §3.)
Section 24-10-9 – Alabama Housing Trust Fund Advisory Committee – Responsibilities.
Section 24-10-9 Alabama Housing Trust Fund Advisory Committee – Responsibilities. The committee’s responsibilities shall include the following: (1) Review and advise ADECA staff on all policies and procedures for operation of the Alabama Housing Trust Fund including, but not limited to: a. Development of a process for making awards from the trust fund. b. Development […]
Section 24-9-4 – Definitions.
Section 24-9-4 Definitions. When used in the chapter, the following words shall have the following meanings: (1) AGREEMENT. The intergovernmental cooperation agreement entered into between an authority and a local authority by the parties pursuant to this chapter. (2) AUTHORITY. The Alabama Land Bank Authority. (3) BOARD. The Alabama Land Bank Authority Board. (4) LOCAL […]
Section 24-10-10 – Organizations Eligible for Funding.
Section 24-10-10 Organizations eligible for funding. The following organizations shall be eligible to apply to ADECA for funding: (1) Not-for-profit organizations. (2) Municipalities. (3) Counties. (4) Public housing authorities. (5) For-profit organizations. Profit organizations that use Alabama Housing Trust Fund monies to provide housing for extremely low income individuals and families must partner with not-for-profit […]
Section 24-9-5 – Alabama Land Bank Authority Board.
Section 24-9-5 Alabama Land Bank Authority Board. (a) There is created the Alabama Land Bank Authority Board which shall govern the authority to administer and enforce this chapter. (b) The board shall consist of the following members: (1) Four residents of the state appointed by the Governor. (2) Two representatives from nonprofit organizations engaged in […]
Section 24-10-11 – Ownership Requirements.
Section 24-10-11 Ownership requirements. All home ownership projects funded by the Alabama Housing Trust Fund must follow the same ownership requirements of the current Alabama Habitat for Humanity home ownership program. (Act 2012-384, p. 1015, §11.)
Section 24-9-6 – Acquisition of Tax Delinquent Properties.
Section 24-9-6 Acquisition of tax delinquent properties. (a) The authority, at such times as it deems to be appropriate, may submit a written request to the Land Commissioner of the Alabama Department of Revenue for the transfer of the state’s interest in certain properties to the authority. Upon receipt of such request, the Land Commissioner […]
Section 24-11-1 – Short Title.
Section 24-11-1 THIS SECTION WAS ASSIGNED BY THE CODE COMMISSIONER IN THE 2018 REGULAR SESSION, EFFECTIVE MARCH 28, 2018. THIS IS NOT IN THE CURRENT CODE SUPPLEMENT. Short Title. This act shall be known and may be cited as the “Alabama First-time and Second Chance Home Buyer Savings Account Act.” (Act 2018-467, §1.)