Sec. 10. (a) A land bank shall do the following:
(1) Maintain an inventory of real property held by the land bank.
(2) Develop policies, guidelines, and procedures for the acquisition, redevelopment, and disposition of property by and from the land bank. The policies, guidelines, and procedures developed under this subdivision must be formulated in plain language with the objective of being clearly understood.
(3) Make the information described in subdivisions (1) and (2) available for inspection:
(A) at the offices of the land bank during regular business hours; and
(B) on the land bank's Internet web site.
(4) Coordinate the land bank's activities with any land use plans that affect real property held by the land bank.
(b) If real property held by a county land bank is located in the territory of a municipality of the county, the county land bank shall offer to convey the real property to the municipality before the county land bank offers, or accepts an offer, to convey the real property to any other individual or entity. An offer to convey real property made by a county land bank to a municipality under this section expires sixty (60) days after the county land bank makes the offer, unless the county land bank and the municipality agree to another period.
As added by P.L.211-2016, SEC.1.