J. MILLARD TAWES, Governor                       1659

the urban renewal plan, and may be obligated to comply with such
other requirements as the Board 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 re-
newal plan. Such real property or interest shall be sold, leased, other-
wise transferred, or retained at no less than its fair value for uses in
accordance with the urban renewal plan. In determining the fair
value of real property for uses in accordance with the urban renewal
plan, the Board 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 County retaining the property; and the objectives of such plan
for the prevention of the recurrence of slum or blighted areas. The
Board 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 Board until he has completed the
construction of any or all improvements which he has obligated
himself to construct thereon. Real property acquired by the Board
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 Board may determine) may be recorded in the Land Records
of the County in such manner as to afford actual or constructive
notice thereof.

(b)   The Board may dispose of real property in an urban renewal
area to private persons only under such reasonable competitive bid-
ding procedures as it shall prescribe or as hereinafter provided in
this subsection. The Board may, by public notice by publication in a
newspaper having a general circulation in the community (not less
than sixty days prior to the execution of any contract to sell, lease or
otherwise transfer real property and prior to the delivery of any
instrument of conveyance with respect thereto under the provisions
of this section) invite proposals from and make available all pertinent
information to private redevelopers or any persons interested in
undertaking to redevelop or rehabilitate an urban renewal area, or
any part thereof. Such notice shall identify the area, or portion
thereof, and shall state that proposals shall be made by those inter-
ested within a specified period of not less than sixty days after the
first day of publication of said notice, and that such further informa-
tion as is available may be obtained at such office as shall be desig-
nated in said notice. The Board shall consider all such redevelopment
or rehabilitation proposals and the financial and legal ability of the
persons making such proposal to carry them out, and may negotiate
with any persons for proposals for the purchase, lease or other trans-
fer of any real property acquired by the municipality in the urban
renewal area. The Board may accept such proposal as it deems to be
in the public interest and in furtherance of the purposes of this sub-
heading. Thereafter, the Board may execute and deliver contracts,
deeds, leases and other instruments and take all steps necessary to
effectuate such transfers.

(c)   The Board may temporarily operate and maintain real prop-
erty acquired by it in an urban renewal area for or in connection with