Sec. 373A.204. HOMESTEAD LAND BANK PROGRAM. (a) The governing body of a municipality may adopt a homestead land bank program in which the officer charged with selling real property ordered sold pursuant to foreclosure of a tax lien may sell certain eligible real property by private sale for purposes of affordable housing development as provided by this subchapter.
(b) The governing body of a municipality that adopts a homestead land bank program shall establish or approve a land bank for the purpose of acquiring, holding, and transferring unimproved real property under this subchapter.
Added by Acts 2005, 79th Leg., Ch. 495 (H.B. 525), Sec. 1, eff. September 1, 2005.
Structure Texas Statutes
Title 12 - Planning and Development
Subtitle A - Municipal Planning and Development
Chapter 373A - Homestead Preservation Districts and Reinvestment Zones
Subchapter E. Homestead Land Bank Program
Section 373A.202. Applicability
Section 373A.204. Homestead Land Bank Program
Section 373A.205. Qualified Participating Developer
Section 373A.206. Homestead Land Bank Plan
Section 373A.207. Public Hearing on Proposed Plan
Section 373A.208. Private Sale to Land Bank
Section 373A.209. Subsequent Resale by Land Bank
Section 373A.210. Restrictions on Occupancy and Use of Property
Section 373A.211. Right of First Refusal