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1301
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MARVIN MANDEL, Governor
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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 OF 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.
8. DISPOSAL OF PROPERTY IN URBAN RENEWAL AREA
(A) THE MUNICIPALITY MAY SELL, LEASE, OR OTHERWISE
TRANSFER REAL PROPERTY OR 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
WHATEVER COVENANTS, CONDITIONS, AND RESTRICTIONS,
INCLUDING COVENANTS RUNNING WITH THE LAND, AS IT
CONSIDERS NECESSARY OR DESIRABLE TO ASSIST IN PREVENTING
THE DEVELOPMENT OR SPREAD OF FUTURE SLUMS OF BLIGHTED
AREAS OR TO OTHERWISE CARRY OUT THE PURPOSES OF THIS
SUBHEADING. THE PURCHASERS OR LESSEES AND THEIR
SUCCESSORS AND ASSIGNS SHALL BE OBLIGATED TO DEVOTE THE
REAL PROPERTY ONLY TO THE USES SPECIFIED IN THE URBAN
RENEWAL PLAN, AND MAY BE OBLIGATED TO COMPLY WITH
WHATEVER OTHER REQUIREMENTS THE MUNICIPALITY DETERMINES
TO BE IN THE PUBLIC INTEREST, INCLUDING THE OBLIGATION TO
BEGIN WITHIN A REASONABLE TIME ANY IMPROVEMENTS ON THE
REAL PROPERTY REQUIRED BY THE URBAN RENEWAL PLAN. THE
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