(a) The authority has all of the powers necessary or convenient to carry out and effectuate the purposes and provisions of this chapter, including the power:

1. (1) to make or participate in the making of construction loans for multiple family residential housing under terms that are approved by the authority;
2. (2) to make or participate in the making of mortgage loans for multiple family residential housing under terms that are approved by the authority;
3. (3) to purchase or participate in the purchase from mortgage lenders of mortgage loans made to persons of low and moderate income for residential housing;
4. (4) to make loans to mortgage lenders for the purpose of furnishing funds to such mortgage lenders to be used for making mortgage loans for persons and families of low and moderate income. However, the obligation to repay loans to mortgage lenders shall be general obligations of the respective mortgage lenders and shall bear such date or dates, shall mature at such time or times, shall be evidenced by such note, bond, or other certificate of indebtedness, shall be subject to prepayment, and shall contain such other provisions consistent with the purposes of this chapter as the authority shall by rule or resolution determine;
5. (5) to collect and pay reasonable fees and charges in connection with making, purchasing, and servicing of its loans, notes, bonds, commitments, and other evidences of indebtedness;
6. (6) to acquire real property, or any interest in real property, by conveyance, including purchase in lieu of foreclosure, or foreclosure, to own, manage, operate, hold, clear, improve, and rehabilitate such real property and sell, assign, exchange, transfer, convey, lease, mortgage, or otherwise dispose of or encumber such real property where such use of real property is necessary or appropriate to the purposes of the authority;
7. (7) to sell, at public or private sale, all or any part of any mortgage or other instrument or document securing a construction loan, a land development loan, a mortgage loan, or a loan of any type permitted by this chapter;
8. (8) to procure insurance against any loss in connection with its operations in such amounts and from such insurers as it may deem necessary or desirable;
9. (9) to consent, subject to the provisions of any contract with noteholders or bondholders which may then exist, whenever it deems it necessary or desirable in the fulfillment of its purposes to the modification of the rate of interest, time of payment of any installment of principal or interest, or any other terms of any mortgage loan, mortgage loan commitment, construction loan, loan to lender, or contract or agreement of any kind to which the authority is a party;
10. (10) to enter into agreements or other transactions with any federal, state, or local governmental agency for the purpose of providing adequate living quarters for such persons and families in cities and counties where a need has been found for such housing;
11. (11) to include in any borrowing such amounts as may be deemed necessary by the authority to pay financing charges, interest on the obligations (for a period not exceeding the period of construction and a reasonable time thereafter or if the housing is completed, two (2) years from the date of issue of the obligations), consultant, advisory, and legal fees and such other expenses as are necessary or incident to such borrowing;
12. (12) to make and publish rules respecting its lending programs and such other rules as are necessary to effectuate the purposes of this chapter;
13. (13) to provide technical and advisory services to sponsors, builders, and developers of residential housing and to residents and potential residents, including housing selection and purchase procedures, family budgeting, property use and maintenance, household management, and utilization of community resources;
14. (14) to promote research and development in scientific methods of constructing low cost residential housing of high durability;
15. (15) to encourage community organizations to participate in residential housing development;
16. (16) to make, execute, and effectuate any and all agreements or other documents with any governmental agency or any person, corporation, association, partnership, limited liability company, or other organization or entity necessary or convenient to accomplish the purposes of this chapter;
17. (17) to accept gifts, devises, bequests, grants, loans, appropriations, revenue sharing, other financing and assistance and any other aid from any source whatsoever and to agree to, and to comply with, conditions attached thereto;
18. (18) to sue and be sued in its own name, plead and be impleaded;
19. (19) to maintain an office in the city of Indianapolis and at such other place or places as it may determine;
20. (20) to adopt an official seal and alter the same at pleasure;
21. (21) to adopt and from time to time amend and repeal bylaws for the regulation of its affairs and the conduct of its business and to prescribe rules and policies in connection with the performance of its functions and duties;
22. (22) to employ fiscal consultants, engineers, attorneys, real estate counselors, appraisers, and such other consultants and employees as may be required in the judgment of the authority and to fix and pay their compensation from funds available to the authority therefor;

23. (23) notwithstanding IC 5-13 , but subject to the requirements of any trust agreement entered into by the authority, to invest:

    1. (A) the authority's money, funds, and accounts;
    2. (B) any money, funds, and accounts in the authority's custody; and

    3. (C) proceeds of bonds or notes;

       in the manner provided by an investment policy established by resolution of the authority;

24. (24) to make or participate in the making of construction loans, mortgage loans, or both, to individuals, partnerships, limited liability companies, corporations, and organizations for the construction of residential facilities for individuals with a developmental disability or for individuals with a mental illness or for the acquisition or renovation, or both, of a facility to make it suitable for use as a new residential facility for individuals with a developmental disability or for individuals with a mental illness;
25. (25) to make or participate in the making of construction and mortgage loans to individuals, partnerships, corporations, limited liability companies, and organizations for the construction, rehabilitation, or acquisition of residential facilities for children;

26. (26) to purchase or participate in the purchase of mortgage loans from:

    1. (A) public utilities (as defined in IC 8-1-2-1 ); or

    2. (B) municipally owned gas utility systems organized under IC 8-1.5 ;

       if those mortgage loans were made for the purpose of insulating and otherwise weatherizing single family residences in order to conserve energy used to heat and cool those residences;

27. (27) to provide financial assistance to mutual housing associations ( IC 5-20-3 ) in the form of grants, loans, or a combination of grants and loans for the development of housing for low and moderate income families;
28. (28) to service mortgage loans made or acquired by the authority and to impose and collect reasonable fees and charges in connection with such servicing;
29. (29) subject to the authority's investment policy, to enter into swap agreements (as defined in IC 8-9.5-9-4 ) in accordance with IC 8-9.5-9-5 and IC 8-9.5-9-7 ;
30. (30) to promote and foster community revitalization through community services and real estate development;
31. (31) to coordinate and establish linkages between governmental and other social services programs to ensure the effective delivery of services to low income individuals and families, including individuals or families facing or experiencing homelessness;
32. (32) to cooperate with local housing officials and plan commissions in the development of projects that the officials or commissions have under consideration;
33. (33) to prescribe, in accordance with IC 32-30-10.5-10 (i), a list of documents that must be included under IC 32-30-10.5 as part of a debtor's loss mitigation package in a foreclosure action filed after June 30, 2011;
34. (34) to take actions necessary to implement its powers that the authority determines to be appropriate and necessary to ensure the availability of state or federal financial assistance; and

35. (35) to administer any program or money designated by the state or available from the federal government or other sources that is consistent with the authority's powers and duties.

    The omission of a power from the list in this subsection does not imply that the authority lacks that power. The authority may exercise any power that is not listed in this subsection but is consistent with the powers listed in this subsection to the extent that the power is not expressly denied by the Constitution of the State of Indiana or by another statute.

(b) The authority shall ensure that a mortgage loan acquired by the authority under subsection (a)(3) or made by a mortgage lender with funds provided by the authority under subsection (a)(4) is not knowingly made to a person whose adjusted family income, as determined by the authority, exceeds one hundred twenty-five percent (125%) of the median income for the geographic area involved. However, if the authority determines that additional encouragement is needed for the development of the geographic area involved, a mortgage loan acquired or made under subsection (a)(3) or (a)(4) may be made to a person whose adjusted family income, as determined by the authority, does not exceed one hundred forty percent (140%) of the median income for the geographic area involved. The authority shall establish procedures that the authority determines are appropriate to structure and administer any program conducted under subsection (a)(3) or (a)(4) for the purpose of acquiring or making mortgage loans to persons of low or moderate income. In determining what constitutes low income, moderate income, or median income for purposes of any program conducted under subsection (a)(3) or (a)(4), the authority shall consider:

1. (1) the appropriate geographic area in which to measure income levels; and

2. (2) the appropriate method of calculating low income, moderate income, or median income levels including:

   1. (A) sources of;
   2. (B) exclusions from; and

   3. (C) adjustments to;

      income.

(d) The authority shall identify, promote, assist, and fund:

1. (1) home ownership education programs; and

2. (2) mortgage foreclosure counseling and education programs under IC 5-20-6 ;

   conducted throughout Indiana by nonprofit counseling agencies that the authority has certified, or by any other public, private, or nonprofit entity in partnership with a nonprofit agency that the authority has certified, using funds appropriated under section 27 of this chapter. The attorney general and the entities listed in IC 4-6-12-4 (a)(1) through IC 4-6-12-4 (a)(10) shall cooperate with the authority in implementing this subsection.

(e) The authority shall:

1. (1) oversee and encourage a regional homeless delivery system that:

   1. (A) considers the need for housing and support services;
   2. (B) implements strategies to respond to gaps in the delivery system; and
   3. (C) ensures individuals and families are matched with optimal housing solutions;
2. (2) facilitate the dissemination of information to assist individuals and families accessing local resources, programs, and services related to homelessness, housing, and community development; and

3. (3) each year, estimate and reasonably determine the number of the following:

   1. (A) Individuals in Indiana who are homeless.
   2. (B) Individuals in Indiana who are homeless and less than eighteen (18) years of age.

   3. (C) Individuals in Indiana who are homeless and not residents of Indiana.

      As added by Acts 1978, P.L.28, SEC.1. Amended by Acts 1982, P.L.35, SEC.3; P.L.60-1983, SEC.2; P.L.39-1984, SEC.2; P.L.3-1989, SEC.30; P.L.69-1989, SEC.2; P.L.14-1991, SEC.3; P.L.2-1992, SEC.55; P.L.8-1993, SEC.73; P.L.27-1993, SEC.16; P.L.1-1994, SEC.23; P.L.235-2005, SEC.88; P.L.145-2006, SEC.12; P.L.181-2006, SEC.18; P.L.99-2007, SEC.20; P.L.133-2008, SEC.1; P.L.145-2008, SEC.3; P.L.1-2009, SEC.23; P.L.105-2009, SEC.1; P.L.170-2011, SEC.2; P.L.6-2012, SEC.36; P.L.156-2017, SEC.1; P.L.73-2020, SEC.1.