Determination of costs of abatement.

(1) Prior to ordering work or the furnishing of materials to abate a public nuisance under this chapter, the court shall make all of the following findings:

(1) (a) The estimated cost of the labor, materials, and financing required to abate the public nuisance.

(1) (b) The estimated income and expenses of the property after the furnishing of the materials and the completion of the repairs and improvements.

(1) (c) The need for and terms of financing for the performance of the work and the furnishing of the materials.

(1) (d) If repair and rehabilitation of the property are not found to be feasible, the cost of demolition of the property or the portions of the property that constitute the public nuisance.

(2) Upon the written request of all the known interested persons to have the property or portions of the property demolished, the court may order the demolition. However, demolition shall not be ordered unless the requesting persons have paid the costs of demolition, the costs of the receivership, and all notes and mortgages of the receivership.

85 Acts, ch 222, §5