Ch. 40

1996 LAWS OF MARYLAND

RENEWAL AREA. THE MUNICIPALITY MAY HAVE THE PLAN OR MODIFICATION
CARRIED OUT IN ACCORDANCE WITH ITS TERMS.

A1-108. 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 OR BLIGHTED AREAS OR TO
OTHERWISE CARRY OUT THE PURPOSES OF THIS APPENDIX. 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 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 APPENDIX, WITHOUT REGARD TO THE PROVISIONS OF

- 1076 -