140.986. Productive use of property, time period to show — extension, when — public sale, when. — 1. No later than two years from the date it acquired the property, a land bank agency shall either sell, put to a productive use, or show significant progress towards selling or putting to a productive use a parcel of real property. A productive use may be renting the property; demolishing all structures of the property; restoring property of historic value; or using the property for a community garden, park, or other open public space.
2. The governing body of the city may grant the land bank agency a one-year extension if the body determines by a majority vote that unforeseen circumstances have delayed the sale or productive use of a parcel of property.
3. If a land bank agency owns a parcel of real property that does not have a productive use after two years, or does not receive an extension under subsection 2 of this section, the property shall be offered for public sale using the procedures under sections 140.170 to 140.190.
--------
(L. 2019 H.B. 821)
---- end of effective 28 Aug 2019 ----
|
|||
Click here for the Reorganization Act of 1974 - or - Concurrent Resolutions Having Force & Effect of Law | |||
In accordance with Section 3.090, the language of statutory sections enacted during a legislative session are updated and available on this website on the effective date of such enacted statutory section. |
![]() |
||
|
Recent Sections | Editorials | May Be Cited As | Tables & Forms | Multiple Enact |
Repeal & Transfer | Definitions | End Report | ||
|
||||
Site changes | Pictures | Contact |
Legislative Research | Oversight | MOLIS | |||
Library | MO WebMasters |
Errors / suggestions - WebMaster@LR.mo.gov |
![]() |
©Missouri Legislature, all rights reserved. | |||||||
![]() |
![]() |
![]() |
![]() |
@03:32:42.4 20 :(∞