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(a) To provide off-street parking facilities for the use of the public in and for each district, the County may acquire by purchase, lease, condemnation, or otherwise any land in a district, or any land outside any district, if the land is located in whole or in part within 600 feet of the boundary of any district as created or modified, after public hearing under Section 11B-46. After acquiring any land, the County may improve the land for use as off-street parking lots and operate and maintain a parking facility under this Chapter.
(b) Notwithstanding any other provision of this chapter, the county may utilize any property acquired with parking lot district funds for purposes other than off-street parking or may sell, lease or otherwise dispose of property or portions of property, including mineral rights, air rights, and easements, on the condition that the county reimburse the district affected the fair market value of the property disposed of or used for purposes which do not provide for off-street parking. However, the county need not reimburse a parking lot district at fair market value for the transfer of interests in property as authorized under subsection (c). The county executive may issue regulations under method (2) to implement this subsection.
(c) Locating affordable housing near property devoted to commercial, industrial, and general business uses benefits businesses located in the district. Therefore, the county executive may, for less than fair market value, lease property acquired with parking lot district tax funds or transfer the air rights or an easement to property acquired with parking lot district tax funds, if the county executive, by executive order:
(1) provides that the interest in property to be transferred must be used for:
(A) a productivity housing project under chapter 25B, Article 4, Productivity Housing Program; or
(B) an opportunity housing project under chapter 56, Article VI, Housing Opportunity Act.
However, the county executive may allow up to 20% of the gross floor area of the housing project to be used for retail purposes if the retail use is compatible with the surrounding property;
(2) determines that the property to be transferred is not reasonably expected to be needed for parking in the foreseeable future;
(3) determines that the property to be transferred is not required to assure revenue necessary to pay outstanding or planned bonded indebtedness; and
(4) determines that the transfer of property is consistent with the obligations of the County under any outstanding bond agreements. (Mont. Co. Code 1965, § 44-2; 1985 L.M.C., ch. 36, § 1; FY 1991 L.M.C., ch. 20, § 1; 2010 L.M.C., ch. 49, § 1.)