J. MILLARD TAWES, GOVERNOR                           1305

afford maximum opportunity, consistent with the sound needs of the
municipality COUNTY as a whole, for the rehabilitation or rede-
velopment of the urban renewal area by private enterprise.

26A-15. An urban renewal plan may be modified at any time, pro-
vided that if modified after the lease or sale of real property in the
urban renewal project area, the modification must be consented to
by the owner, lessee or successor in interest thereof. Where the pro-
posed modification will substantially change the urban renewal plan
as previously approved by the Planning Board, the modification must
be formally approved by the Planning Board, as in the case of an
original plan.

26A-16. Upon the approval by the Commission of an urban re-
newal plan or of any modification thereof, such plan or modification
shall be deemed to be in full force and effect for the respective urban
renewal area and the Commission may then cause such plan or modi-
fication to be carried out in accordance with its terms.

26A-17. The Redevelopment and Rehabilitation Commission may
sell, lease or otherwise transfer real property or any interest therein
acquired for it by an urban renewal project, for residential, recrea-
tional, commercial, industrial, educational or other uses or for public
use, or may retain such property or interest for public use, in accord-
ance with the urban renewal plan, subject to such covenants, condi-
tions and restrictions, including covenants running with the land,
as it may deem to be necessary or desirable to assist in preventing
the development or spread of future slums or blighted areas or to
otherwise carry out the purposes of the Act. The purchasers or
lessees and their successors and assigns shall be obligated to devote
such real property only to the uses specified in the urban renewal
plan, and may be obligated to comply with such other requirements
as the municipality COMMISSION may determine to be in the public
interest, including the obligation to begin within a reasonable time any
improvements on such real property required by the urban renewal
plan. Such real property or interest shall be sold, leased, otherwise
transferred, or retained at not less than its fair value for uses in ac-
cordance with the urban renewal plan. In determining the fair value
of real property for uses in accordance with the urban renewal plan,
the Commission shall take into account and give consideration to the
uses provided in such plan; the restrictions upon, and the covenants,
conditions and obligations assumed by the purchaser or lessee or by
the municipality COUNTY retaining the property; and the objectives
of such plan for the prevention of the recurrence of slum or blighted
areas. The Commission, in any instrument of conveyance to a private
purchaser or lessee may provide that such purchaser or lessee shall be
without power to sell, lease or otherwise transfer the real property
without the prior written consent of the Commission, until he has
completed the construction of any or all improvements which he has
obligated himself to construct thereon. Real property acquired by
the Commission, which, in accordance with the provisions of the urban
renewal plan, is to be transferred, shall be transferred as rapidly as
feasible in the public interest consistent with the carrying out of the
provisions of the urban renewal plan. Any contract for such transfer
and the urban renewal plan (or such part or parts of such contract
or plan as the municipality COMMISSION may determine) may be