The Iowa Land Redevelopment Trust Act establishes a framework for the creation and operation of land redevelopment trusts aimed at addressing issues related to dilapidated, abandoned, blighted, and tax-delinquent properties in Iowa. The Act empowers municipalities to create these trusts, which can acquire, manage, and dispose of real property, while also allowing them to borrow funds and receive financial support. Importantly, the trusts are prohibited from exercising eminent domain and can allocate property tax revenues to support their activities. The legislation also designates land redevelopment trusts as governmental bodies, requiring compliance with public meeting and records laws, and mandates annual reporting and periodic audits.

Additionally, the bill amends existing laws regarding the filing of petitions for the abatement of abandoned properties, expanding the list of entities that can file such petitions to include land redevelopment trusts and nonprofit corporations focused on improving housing conditions. The bill specifies that petitions must include a legal description of the property and outlines the methods for serving notice to interested parties. Overall, the legislation aims to enhance the operational framework and accountability of land redevelopment trusts while promoting community revitalization efforts.

Statutes affected:
Introduced: 28H.1, 446.9, 446.18, 21.2, 22.1, 468.3, 364.7, 362.3, 573.1, 657A.2
Reprinted: 28H.1, 446.9, 446.18, 21.2, 22.1, 468.3, 364.7, 362.3, 573.1, 657A.2