Section 353.130

Title XXIII CORPORATIONS, ASSOCIATIONS AND PARTNERSHIPS

Chapter 353

Effective - 28 Aug 2006   

  353.130.  Redevelopment corporation may acquire property. — 1.  An urban redevelopment corporation may acquire real property or secure options in its own name or, in the name of nominees, it may acquire real property by gift, grant, lease, purchase, or otherwise.

  2.  An urban redevelopment corporation operating pursuant to a redevelopment agreement with a municipality for a particular redevelopment area, which agreement was executed prior to or on December 31, 2006, shall have the right to acquire by the exercise of the power of eminent domain any real property in such redevelopment area in fee simple or other estate which is necessary to accomplish the purpose of this chapter, under such conditions and only when so empowered by the legislative authority of the cities affected by this chapter.

  3.  An urban redevelopment corporation operating pursuant to a redevelopment agreement with a municipality for a particular redevelopment area, which agreement was executed prior to or on December 31, 2006, may exercise the power of eminent domain in such redevelopment area in the manner provided for corporations in chapter 523; or it may exercise the power of eminent domain in the manner provided by any other applicable statutory provision for the exercise of the power of eminent domain.  Property already devoted to a public use may be acquired in like manner, provided that no real property belonging to any city, county, or the state, or any political subdivision thereof may be acquired without its consent.

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(L. 1943 p. 751 § 19, A.L. 1945 p. 1242 § 12, A.L. 2006 H.B. 1944)