Notwithstanding section 446.18, a city or county may purchase abandoned property assessed as residential or commercial multifamily housing which did not sell at an annual tax sale under section 446.7 for the total amount due. Money shall not be paid by the county or other tax-levying or tax- certifying body for the purchase, but each of the tax-levying and tax-certifying bodies having any interest in the taxes shall be charged with the total amount due the tax-levying or tax-certifying body as its just share of the purchase price. Prior to the purchase the city or county shall file with the county treasurer a verified statement that a parcel to be purchased is abandoned and deteriorating in condition or is, or is likely to become, a public nuisance, and that the parcel is suitable for use for low or moderate income housing following rehabilitation.
The city or county may sell the certificate of purchase. Preference shall be given to purchasers who are low or moderate income families or organizations which assist low and moderate income families to obtain housing. For the purpose of this section, "low or moderate income families" has the same meaning as in section 403.17. All persons who purchase certificates under this section shall demonstrate the intent to rehabilitate the property for habitation if the property is not redeemed. In the alternative, the county may, if title to the property has vested in the county under section 447.9, dispose of the property in accordance with section 331.361.
96 Acts, ch 1204, §31
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