J. MILLARD TAWES, Governor                        215

all of the powers by this sub-heading granted to the municipality shall,
from the effective date of said ordinance, be vested in the public
body or agency thereby established, except:

(1)   The power to pass a resolution to initiate an urban renewal
project pursuant to Section k of this sub-heading.

(2)   The power to issue general obligation bonds pursuant to
Section 9 of this sub-heading.

(3)   The power to appropriate funds, and to levy taxes and assess-
ments pursuant to Section 2 (3) of this sub-heading.

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 renewal
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
hardship to such families; (2) the urban renewal plan substantially
conforms 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.