LA SB107

Expands the Lafayette Economic Development Authority's power to purchase adjudicated properties from any Louisiana political subdivision, granting it all rights and authorities given to parish redevelopment authorities under R.S. 33:4720.161(K)(1) through (6)

Authorizes the authority to purchase properties at judicial mortgage enforcement sales by tendering a credit bid equal to or greater than the minimum advertised bid, with priority over other bids except conventional mortgage holders

Permits the authority to initiate expedited quiet title and foreclosure actions to clear title on properties it holds, including interests purchased at tax sales and formerly adjudicated properties acquired from political subdivisions

Applies to redevelopment activities within House of Representatives District No. 44 and Lafayette City Council Districts 1 and 5 as drawn on June 20, 2022