MARVIN MANDEL, Governor                                1085

AN URBAN RENEWAL PROJECT AFTER PUBLIC NOTICE OF IT BY
PUBLICATION IN A NEWSPAPER HAVING A GENERAL CIRCULATION
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 THE HEAPING, 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 OR NATURAL PERSONS WHO WILL BE
DISPLACED FROM THE URBAN RENEWAL AREA IN DECENT, SAFE AND
SANITARY DWELLING ACCOMMODATIONS WITHIN THEIR MEANS AND
WITHOUT UNDUE HARDSHIP TO THE FAMILIES OR NATURAL
PERSONS;

(2)    THE URBAN RENEWAL PLAN CONFORMS
SUBSTANTIALLY 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 REHABILITATION OR
REDEVELOPMENT OR THE URBAN RENEWAL AREA BY PRIVATE
ENTERPRISE.

(B)    AN URBAN RENEWAL PLAN MAY BE MODIFIED AT ANY
TIME. IF MODIFIED AFTER THE LEASE OR SALE OF REAL
PROPERTY IN THE URBAN RENEWAL PROJECT AREA, THE
MODIFICATION MAY BE CONDITIONED UPON WHATEVER APPROVAL OF
THE OWNER, LESSEE OR SUCCESSOR IN INTEREST AS THE
MUNICIPALITY CONSIDERS ADVISABLE. IN ANY EVENT, IT SHALL
BE SUBJECT TO WHATEVER 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 CHANGE SUBSTANTIALLY THE URBAN RENEWAL
PLAN AS APPROVED PREVIOUSLY BY THE MUNICIPALITY, THE
MODIFICATION SHALL BE APPROVED FORMALLY BY THE
MUNICIPALITY, AS IN THE CASE OF AN ORIGINAL PLAN.

(C)    UPON THE APPROVAL BY THE MUNICIPALITY OF AN
URBAN RENEWAL PLAN OR OF ANY MODIFICATION OF IT, THE PLAN
OR MODIFICATION SHALL BE CONSIDERED TO BE IN FULL FORCE
AND EFFECT FOR THE RESPECTIVE URBAN RENEWAL AREA. THE
MUNICIPALITY MAY HAVE THE PLAN OR MODIFICATION CARRIED
OUT IN ACCORDANCE WITH ITS TERMS.

367H. DISPOSAL OF PROPERTY IN URBAN RENEWAL AREA

(A) THE MUNICIPALITY MAY SELL, LEASE OR OTHERWISE
TRANSFER REAL PROPERTY OF ANY INTEREST IN IT ACQUIRED BY
IT FOR AN URBAN RENEWAL PROJECT TO ANY PERSON FOR
RESIDENTIAL, RECREATIONAL, COMMERCIAL, INDUSTRIAL,
EDUCATIONAL OR OTHER USES OR FOR PUBLIC USE, OR IT MAY
RETAIN THE PROPERTY OR INTEREST FOR PUBLIC USE, IN
ACCORDANCE WITH THE URBAN RENEWAL PLAN AND SUBJECT TO