21-45-19 - Items which are included in cost of redevelopment project.
§ 21-45-19. Items which are included in cost of redevelopment project.
The cost of a redevelopment project shall be deemed to include the actual cost of the construction or rehabilitation of any part of a project which may be constructed or rehabilitated by a municipality, including architects' and engineers' fees, the purchase price of any real property that may be acquired by a municipality by purchase, all expenses in connection with the authorization, sale and issuance of bonds or other indebtedness to finance such acquisition, and the interest on bonds for a reasonable time prior to construction or rehabilitation, during construction or rehabilitation and for not exceeding one (1) year after completion of the construction or rehabilitation.
Sources: Laws, 1986, ch. 449, § 10; Laws, 1993, ch. 527, § 5, eff from and after July 1, 1993.