This bill provides to local governments an alternative process for the condemnatio of blighted properties within the local jurisdiction.
This bill requires that the condemned property:
(A) Is at least 500,000 square feet in size;
(B) Was built prior to 1995; and
(C) Has not been legally occupied, has not had a tenant, or has been empty for ten consecutive years or has been less than 30 percent occupied for a least 20 consecutive years.
This bill is very similar to SB 531.