Indiana Court Bond Requirement for Redevelopment Commissions

Category: Uncategorized
Published: Aug 29, 2011
SB 541: Court Bond

Under this bill the creation of redevelopment commissions in certain counties in Indiana will be possible. This bill will allow for an economic development pilot program. These commissions must determine which areas of the county are eligible for redevelopment, and create a plan for these areas. Anyone who is affected by the redevelopment would eligible to file remonstrance with the commission as a part of the planning process. If the remonstrator is then aggrieved by the commission’s final decision for the economic development area they are then allowed to file an appeal in the circuit court. This redevelopment commission could petition to have the appeal dismissed. This may be possible unless the remonstrator files an appeal bond to secure the costs of the appeal and all damages should the commission win in the lawsuit.

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Victor Lance is the founder and president of Lance Surety Bond Associates, Inc. He began his career as an officer in the U.S. Marine Corps, serving two combat tours. As president of Lance Surety, he now focuses on educating and assisting small businesses throughout the country with various license and bond requirements. Victor graduated from Villanova University with a degree in Business Administration and holds a Masters in Business Administration (MBA) from the University of Michigan's Ross School of Business.