Pursuant to I.C. 36-7-14, Sec. 12.2.:
 
(a) The redevelopment commission may:

(1) acquire by purchase, exchange, gift, grant, condemnation, or lease, or any combination of methods, any personal property or interest in real property needed for the redevelopment of areas needing redevelopment that are located within the corporate boundaries of the unit;

 

(2) hold, use, sell (by conveyance by deed, land sale contract, or other instrument), exchange, lease, rent, or otherwise dispose of property acquired for use in the redevelopment of areas needing redevelopment on the terms and conditions that the commission considers best for the unit and its inhabitants;

 

(3) sell, lease, or grant interests in all or part of the real property acquired for redevelopment purposes to any other department of the unit or to any other governmental agency for public ways, levees, sewerage, parks, playgrounds, schools, and other public purposes on any terms that may be agreed on;

 

(4) clear real property acquired for redevelopment purposes;

 

(5) repair and maintain structures acquired for redevelopment purposes;

 

(6) remodel, rebuild, enlarge, or make major structural improvements on structures acquired for redevelopment purposes;

 

(7) survey or examine any land to determine whether it should be included within an area needing redevelopment to be acquired for redevelopment purposes and to determine the value of that land;

 

(8) appear before any other department or agency of the unit, or before any other governmental agency in respect to any matter affecting:

(A) real property acquired or being acquired for redevelopment purposes; or

(B) any area needing redevelopment within the jurisdiction of the commissioners;

 

(9) institute or defend in the name of the unit any civil action;

 

(10) use any legal or equitable remedy that is necessary or considered proper to protect and enforce the rights of and perform the duties of the department of redevelopment;

 

(11) exercise the power of eminent domain in the name of and within the corporate boundaries of the unit in the manner prescribed by section 20 of this chapter;

 

(12) appoint an executive director, appraisers, real estate experts, engineers, architects, surveyors, and attorneys;

 

(13) appoint clerks, guards, laborers, and other employees the commission considers advisable, except that those appointments must be made in accordance with the merit system of the unit if such a system exists;

 

(14) prescribe the duties and regulate the compensation of employees of the department of redevelopment;

 

(15) provide a pension and retirement system for employees of the department of redevelopment by using the Indiana public employees' retirement fund or a retirement plan approved by the United States Department of Housing and Urban Development;

 

(16) discharge and appoint successors to employees of the department of redevelopment subject to subdivision (13);

 

(17) rent offices for use of the department of redevelopment, or accept the use of offices furnished by the unit;

 

(18) equip the offices of the department of redevelopment with the necessary furniture, furnishings, equipment, records, and supplies;

 

(19) expend, on behalf of the special taxing district, all or any part of the money of the special taxing district;

 

(20) contract for the construction of:

(A) local public improvements (as defined in IC 36-7-14.5-6) or structures that are necessary for redevelopment of areas needing redevelopment or economic development within the corporate boundaries of the unit; or

(B) any structure that enhances development or economic development;

 

(21) contract for the construction, extension, or improvement of pedestrian skyways;

 

(22) accept loans, grants, and other forms of financial assistance from the federal government, the state government, a municipal corporation, a special taxing district, a foundation, or any other source;

 

(23) provide financial assistance (including grants and loans) to enable individuals and families to purchase or lease residential units within the district. However, financial assistance may be provided only to individuals and families whose income is at or below the unit's median income for individuals and families, respectively;

 

(24) provide financial assistance (including grants and loans) to neighborhood development corporations to permit them to:

(A) provide financial assistance for the purposes described in subdivision (23); or

(B) construct, rehabilitate, or repair commercial property within the district; and

 

(25) require as a condition of financial assistance to the owner of a multiple unit residential structure that any of the units leased by the owner must be leased:

(A) for a period to be determined by the commission, which may not be less than five (5) years;

(B) to families whose income does not exceed eighty percent (80%) of the unit's median income for families; and

(C) at an affordable rate.