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Ch. 27
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1302
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LAWS OF MARYLAND
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REAL PROPERTY OR INTEREST MAY NOT BE SOLD, LEASED,
OTHERWISE TRANSFERRED, OR RETAINED AT 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
MUNICIPALITY SHALL TAKE INTO ACCOUNT AND GIVE
CONSIDERATION TO THE USES PROVIDED IN THE PLAN, THE
RESTRICTIONS UPON, AND THE COVENANTS, CONDITIONS, AND
OBLIGATIONS ASSUMED BY THE PURCHASER OR LESSEE OR BY THE
MUNICIPALITY RETAINING THE PROPERTY, AND THE OBJECTIVES
OF THE PLAN FOR THE PREVENTION OF THE RECURRENCE OF SLUM
OR BLIGHTED AREAS. IN ANY INSTRUMENT OR CONVEYANCE TO A
PRIVATE PURCHASER OR LESSEE, THE MUNICIPALITY MAY PROVIDE
THAT THE PURCHASER OR LESSEE MAY NOT SELL, LEASE, OR
OTHERWISE TRANSFER THE REAL PROPERTY WITHOUT THE PRIOR
WRITTEN CONSENT OF THE MUNICIPALITY UNTIL HE HAS
COMPLETED THE CONSTRUCTION OF ANY OR ALL IMPROVEMENTS
WHICH HE HAS OBLIGATED HIMSELF TO CONSTRUCT ON THE
PROPERTY. REAL PROPERTY ACQUIRED BY THE MUNICIPALITY
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 THE TRANSFER AND THE
URBAN RENEWAL PLAN (OR WHATEVER PART OR PARTS OF THE
CONTRACT OR PLAN AS THE MUNICIPALITY DETERMINES) MAY BE
RECORDED IN THE LAND RECORDS OF THE COUNTY IN WHICH THE
MUNICIPALITY IS SITUATED IN A MANNER SO AS TO AFFORD
ACTUAL OR CONSTRUCTIVE NOTICE OF IT.
(B) THE MUNICIPALITY MAY OPERATE TEMPORARILY AND
MAINTAIN REAL PROPERTY ACQUIRED BY IT IN AN URBAN RENEWAL
AREA FOR OR IN CONNECTION WITH AN URBAN RENEWAL PROJECT
PENDING THE DISPOSITION OF THE PROPERTY AS AUTHORIZED IN
THIS SUBHEADING, WITHOUT REGARD TO THE PROVISIONS OF
SUBSECTION (A), FOR USES AND PURPOSES CONSIDERED
DESIRABLE EVEN THOUGH NOT IN CONFORMITY WITH THE URBAN
RENEWAL PLAN.
(C) ANY INSTRUMENT EXECUTED BY THE MUNICIPALITY
AND PURPORTING TO CONVEY ANY RIGHT, TITLE, OR INTEREST IN
ANY PROPERTY UNDER THIS SUBHEADING SHALL BE PRESUMED
CONCLUSIVELY TO HAVE BEEN EXECUTED IN COMPLIANCE WITH THE
PROVISIONS OF THIS SUBHEADING INSOFAR AS TITLE OR OTHER
INTEREST OF ANY BONA FIDE PURCHASERS, LESSEES, OR
TRANSFEREES OF THE PROPERTY IS CONCERNED.
9. EMINENT DOMAIN
CONDEMNATION OF LAND OR PROPERTY UNDER THE
PROVISIONS OF THIS SUBHEADING SHALL BE IN ACCORDANCE WITH
THE PROCEDURE PROVIDED IN THE REAL PROPERTY ARTICLE OF
THE ANNOTATED CODE OF MARYLAND.
10. ENCOURAGEMENT OF PRIVATE ENTERPRISE
THE MUNICIPALITY, TO THE EXTENT IT DETERMINES TO BE
FEASIBLE IN CARRYING OUT THE PROVISIONS OF THIS
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