SPIRO T. AGNEW, Governor                          395

(3) Finds that the rehabilitation, redevelopment, or a combina-
tion thereof, of such areas, is necessary in the interest of public
health, safety, morals or welfare of the residents of such municipality.

68-24. Preparation and Approval of Plan

(a)    Powers; the municipality, in order to carry out the purposes
of this article, shall prepare and cause to be prepared, an urban
renewal plan for slum or blighted areas in the municipality, and
shall formally approve such plan. Prior to its approval of an urban
renewal project, the municipality shall submit such plan to the gov-
erning body of the municipality, for review and recommendations
as to its conformity with the master plan for the development of the
municipality as a whole. The planning body shall submit its written
recommendation with respect to the proposed urban renewal plan to
the municipality within sixty days after receipt of the plan for
review; upon receipt of the recommendations of the planning body
or, if no recommendations are received within said sixty days, then
proceed with a public hearing on the proposed urban renewal proj-
ect. The municipality shall hold a public hearing on an urban renewal
project after public notice thereof by publication in a newspaper hav-
ing a general circulation within the corporate limits of the municipal-
ity. The notice shall describe the time, 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 the hearing, the municipal-
ity 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 affords maximum oppor-
tunity, consistent with the sound needs of the municipality as a
whole, for the rehabilitation or redevelopment of the urban renewal
area by private enterprise.

(b)    Change. 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 condi-
tioned upon such approval of the owner, lessee or successor in interest
as the municipality 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 proposed modification will substantially change the urban
renewal plan as previously approved by the municipality, the modi-
fication shall be formally approved by the municipality as in the case
of the original plan.

(c)    Effect. Upon the approval by the municipality of an urban
renewal plan or of any modification thereof, such plan or modifica-
tion shall be deemed to be in full force and effect for the respective
urban renewal area and the municipality may then cause such plan
or modification to be carried out in accordance with its terms.

68-25. Disposal of Property in Area

(a) Powers. The municipality may sell, lease or otherwise trans-
fer real property or any interest therein acquired for it by an urban