|SB 0992||Authorizes Buchanan County to seek a grant from the Contiguous Property Redevelopment Fund|
|LR Number:||3820L.02T||Fiscal Note:||3820-02|
|Committee:||Local Government and Economic Development|
|Last Action:||07/12/02 - Signed by Governor||Journal page:|
|Title:||HCS SB 992|
|Effective Date:||August 28, 2002|
HCS/SB 992 - This act authorizes Buchanan County to apply for a grant from the Contiguous Property Redevelopment Fund administered by the Department of Economic Development.
This act authorizes any town, city or village in this state to establish an "historic preservation revolving fund". Moneys in the fund shall be used to protect and preserve historic properties. Historic properties eligible for the such protection and preservation must be eligible for nomination to the National Register of Historic Places.
Municipalities may use money from the fund to acquire
interests in historic properties. The interest acquired must be
reasonably necessary for the continued protection and
preservation of the property. Historic property cannot be
acquired by condemnation under this act. Municipalities may
dispose of interests in the property to any person or
organization, including the former owners. Any conveyance must
include provisions requiring the property to revert back to the
municipality if the property is not operated, maintained,
restored or repaired in accordance with this act. Any conveyance
must also contain provisions to limit the property's future use
to ensure its preservation.