No member or employee of a commission shall acquire any interest, direct or indirect, in any redevelopment project or in any property included or planned to be included in any redevelopment area, nor shall the member have any interest, direct or indirect, in any contract or proposed contract for materials or services to be furnished or used by a commission, or in any contract with a redeveloper or prospective redeveloper relating, directly or indirectly, to any redevelopment project, except that a member or employee of a commission may acquire residential property in a redevelopment area from a person or entity other than the commission after the redevelopment plan for that area is adopted if:
(1) the primary purpose of acquisition is to occupy such property as his principal residence;
(2) the redevelopment plan does not provide for acquisition of such property by the commission;
(3) prior to acquiring title to the property, the commissioner or employee shall have disclosed in writing to the commission and to the governing body of the municipalities his intent to acquire the property and to occupy the property as his principal residence.
HISTORY: 1984 Act No. 451, Section 8.
Structure South Carolina Code of Laws
Title 31 - Housing and Redevelopment
Chapter 10 - Community Development Law
Section 31-10-10. Short title.
Section 31-10-20. Definitions.
Section 31-10-40. Governance by commissioners or by governing body of parent municipality.
Section 31-10-50. Terms of office of commissioners; compensation; removal from office.
Section 31-10-80. Creation of joint redevelopment commission.
Section 31-10-90. Powers of redevelopment commission, in general.
Section 31-10-130. Additional powers of commission with respect to issuance of bonds.
Section 31-10-150. Notice of intent to issue bonds; challenge to issuance.