Indiana Code
Chapter 14. Redevelopment of Areas Needing Redevelopment Generally; Redevelopment Commissions
36-7-14-25.3. Lessors of Redevelopment Facilities; Effect of Other Statutory Provisions

Sec. 25.3. (a) Any of the following persons may lease facilities referred to in section 25.2 of this chapter to a redevelopment commission under this chapter:
(1) A not-for-profit corporation organized under Indiana law or admitted to do business in Indiana.
(2) A redevelopment authority established under IC 36-7-14.5.
(b) Notwithstanding any other law, a lessor under this section and section 25.2 of this chapter is a qualified entity for purposes of IC 5-1.4.
(c) Notwithstanding any other law, a redevelopment facility leased by the redevelopment commission under this chapter from a lessor borrowing bond proceeds from a unit under IC 36-7-12 is an economic development facility for purposes of IC 36-7-11.9-3 and IC 36-7-12.
(d) Notwithstanding IC 36-7-12-25 and IC 36-7-12-26, payments by a redevelopment commission to a lessor described in subsection (c) may be made from sources set forth in section 25.2 of this chapter so long as the payments and the lease are structured to prevent the lease obligation from constituting a debt of the unit or the district for purposes of the Constitution of the State of Indiana.
As added by P.L.380-1987(ss), SEC.12.

Structure Indiana Code