Amends TCA Title 13, Chapter 20; Title 13, Chapter 21 and Title 29, Chapter 17.

Under present law, a housing authority may carry out redevelopment projects, and, as part of such a project may, among other things, acquire blighted area. A housing authority may also undertake urban renewal projects to prevent the development or spread of blighted areas. <br /> <br /> Present law defines "blighted areas" as areas, including slum areas, with buildings or improvements that, by reason of dilapidation, obsolescence, overcrowding, lack of ventilation, light and sanitary facilities, deleterious land use, or any combination of these or other factors, are detrimental to the safety, health, morals, or welfare of the community. “Welfare of the community” does not include solely a loss of property value to surrounding properties, nor does it include the need for increased tax revenues. This bill redefines the term so that "blighted area" means one or more parcels of real property with buildings or improvements, each of which are, by reason of dilapidation, obsolescence, overcrowding, lack of ventilation, light or sanitary facilities, deleterious land use, or any combination of these or other factors, detrimental to the safety, health, morals, or welfare of the community. <br /> <br /> This bill adds to the present law provisions regarding a housing authority's powers in regard to blighted areas that the provisions do not preclude a housing authority from acquiring real property through a negotiated sale, without the use of eminent domain. This bill specifies that housing authorities may pay more than fair market value for a property that is within a blighted area proposed for redevelopment but that is not blighted itself.<br />