J. MILLARD TAWES, GOVERNOR                            441

4.    Initiation of Project

In order to initiate an urban renewal project, the legislative body
of the municipality shall adopt a resolution which

(1)  finds that one or more slum or blighted areas exist in such
municipality;

(2)  locates and defines the said slum or blighted areas;

(3) finds that the rehabilitation, redevelopment, or a combination
thereof, of such area or areas, is necessary in the interest of the
public health, safety, morals or welfare of the residents of such
municipality.

5.    Preparation and approval of Plan for Urban Renewal Project

(a)  The municipality, in order to carry out the purposes of this
sub-heading, shall prepare or cause to be prepared an urban renewal
plan for slum or blighted areas in the municipality, and shall for-
mally approve such plan. Prior to its approval of an urban renewed
project, the municipality shall submit such plan to the planning body
of the municipality, for review and recommendations as to its con-
formity with the master plan for the development of the municipality
as a whole. The planning body shall submit its written recommenda-
tion with respect to the proposed urban renewal plan to the munic-
ipality within sixty days after receipt of the plan for review; upon
receipt of the recommendations of the planning body or, if no recom-
mendations are received within said sixty days, then without such
recommendations, the municipality may proceed with a public hear-
ing on the proposed urban renewal project. The municipality shall
hold a public hearing on an urban renewal project after public
notice thereof by publication in a newspaper having a general circu-
lation within the corporate limits of the municipality. The notice
shall describe the time, date, place and purpose of the hearing, shall
generally identify the urban renewal area covered by the plan, and
shall outline the general scope of the urban renewal project under
consideration. Following such hearing, the municipality may approve
an urban renewal project and the plan therefor if it finds that: (1) a
feasible method exists for the location of any families who will be
displaced from the urban renewal area in decent, safe and sanitary
dwelling accommodations within their means and without undue hard-
ship to such families; (2) the urban renewal plan substantially con-
forms to the master plan of the municipality as a whole; and (3) the
urban renewal plan will afford maximum opportunity, consistent
with the sound needs of the municipality as a whole, for the rehabili-
tation or redevelopment of the urban renewal area by private
enterprise.

(b)  An urban renewal plan may be modified at any time, provided
that if modified after the lease or sale of real property in the urban
renewal project area, the modification may be conditioned upon such
approval of the owner, lessee or successor in interest as the munic-
ipality may deem advisable and in any event shall be subject to such
rights at law or in equity as a lessee or purchaser, or his successor
or successors in interest, may be entitled to assert. Where the pro-
posed modification will substantially change the urban renewal plan
as previously approved by the municipality, the modification shall be
formally approved by the municipality as in the case of an original
plan.