201H-58

Leases; self-help housing

[§201H-58] Leases; self-help housing. (a) The [corporation] may lease parcels that it deems suitable for affordable housing at $1 per year for up to fifty years to organizations or community trusts to develop the parcel with ownership units through self-help development.

(b) The [corporation] may extend or modify the fixed rental period of the lease or extend the term of the lease.

© Parcels leased under this section may be transferred or assigned by devise, bequest, or intestate succession, and may be sublet with the approval of the [corporation]. [L 2006, c 179, §4]