Section 140.1006 – Tax lien on agency property, taxing authority contribution authorized.
Effective – 28 Aug 2019 140.1006. Tax lien on agency property, taxing authority contribution authorized. — 1. If any ancillary parcel is acquired by a land bank agency and is encumbered by a lien or claim for real property taxes owed to a taxing authority, such taxing authority may elect to contribute to the land […]
Section 140.1009 – Quiet title action permitted, procedure.
Effective – 28 Aug 2019 140.1009. Quiet title action permitted, procedure. — 1. A land bank agency shall be authorized to file an action to quiet title under section 527.150 as to any real property in which the land bank agency has an interest. For purposes of any and all such actions, the land bank […]
Section 140.1012 – Dissolution of agency, procedure.
Effective – 28 Aug 2019 140.1012. Dissolution of agency, procedure. — 1. A land bank agency may be dissolved as a public body corporate and politic no sooner than sixty calendar days after an ordinance or resolution for such dissolution is passed by the city that established the land bank agency. 2. No less than […]
Section 140.1015 – Eminent domain, agency not authorized to exercise — no power to tax.
Effective – 28 Aug 2019 140.1015. Eminent domain, agency not authorized to exercise — no power to tax. — A land bank agency shall neither possess nor exercise the power of eminent domain. A land bank agency shall not have the power to tax. ——– (L. 2019 H.B. 821)
Section 140.1000 – Limitation on agency employees — violation, penalty — conflicts of interest rules.
Effective – 28 Aug 2019 140.1000. Limitation on agency employees — violation, penalty — conflicts of interest rules. — 1. No employee of a land bank agency shall receive any compensation, emolument, or other profit directly or indirectly from the rental, management, acquisition, sale, demolition, repair, rehabilitation, use, operation, ownership, or disposition of any lands […]
Section 140.1003 – Agency to have complete control of property.
Effective – 28 Aug 2019 140.1003. Agency to have complete control of property. — Except as otherwise expressly set forth in sections 140.980 to 140.1015, in the exercise of its powers and duties under the land bank act and its powers relating to property held by the land bank agency, the land bank agency shall […]
Section 140.981 – Land bank agency authorized, purpose — beneficiaries — public body corporate and politic.
Effective – 28 Aug 2019 140.981. Land bank agency authorized, purpose — beneficiaries — public body corporate and politic. — 1. Any home rule city with more than seventy-one thousand but fewer than seventy-nine thousand inhabitants may establish a land bank agency for the management, sale, transfer, and other disposition of interests in real estate […]
Section 140.982 – Organization, duties, and powers.
Effective – 28 Aug 2019 140.982. Organization, duties, and powers. — The governing body of the city establishing a land bank agency, or the chief administrative officer of the city establishing a land bank agency, shall have the power to organize and reorganize the executive, administrative, clerical, and other departments of the land bank agency […]
Section 140.983 – Powers of land bank agency.
Effective – 28 Aug 2019 140.983. Powers of land bank agency. — A land bank agency established under the land bank act shall have all powers necessary or appropriate to carry out and effectuate the purposes and provisions of the land bank act, including the following powers in addition to those herein otherwise granted: (1) […]
Section 140.984 – Agency income to be tax exempt — acquisition of property, requirements.
Effective – 28 Aug 2019 140.984. Agency income to be tax exempt — acquisition of property, requirements. — 1. The income of a land bank agency shall be exempt from all taxation by the state and by any of its political subdivisions. Upon acquiring title to any real estate, a land bank agency shall immediately […]