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Ch. 12
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2002 LAWS OF MARYLAND
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(IV) TO INVEST ANY URBAN RENEWAL FUNDS HELD IN RESERVES
OR SINKING FUNDS OR ANY OF THESE FUNDS NOT REQUIRED FOR IMMEDIATE
DISBURSEMENT IN PROPERTY OR SECURITIES WHICH ARE LEGAL INVESTMENTS FOR
OTHER MUNICIPAL FUNDS;
(4) (I) TO HOLD, IMPROVE, CLEAR, OR PREPARE FOR REDEVELOPMENT
ANY PROPERTY ACQUIRED IN CONNECTION WITH URBAN RENEWAL PROJECTS;
(II) TO MORTGAGE, PLEDGE, HYPOTHECATE, OR OTHERWISE
ENCUMBER THAT PROPERTY; AND
(III) TO INSURE OR PROVIDE FOR THE INSURANCE OF THE
PROPERTY OR OPERATIONS OF THE MUNICIPALITY AGAINST ANY RISKS OR HAZARDS,
INCLUDING THE POWER TO PAY PREMIUMS ON ANY INSURANCE;
(5) TO MAKE AND EXECUTE ALL CONTRACTS AND OTHER INSTRUMENTS
NECESSARY OR CONVENIENT TO THE EXERCISE OF ITS POWERS UNDER THIS
APPENDIX, INCLUDING THE POWER TO ENTER INTO AGREEMENTS WITH OTHER
PUBLIC BODIES OR AGENCIES (THESE AGREEMENTS MAY EXTEND OVER ANY
PERIOD, NOTWITHSTANDING ANY PROVISION OR RULE OF LAW TO THE CONTRARY),
AND TO INCLUDE IN ANY CONTRACT FOR FINANCIAL ASSISTANCE WITH THE
FEDERAL GOVERNMENT FOR OR WITH RESPECT TO AN URBAN RENEWAL PROJECT
AND RELATED ACTIVITIES ANY CONDITIONS IMPOSED PURSUANT TO FEDERAL LAWS
AS THE MUNICIPALITY CONSIDERS REASONABLE AND APPROPRIATE;
(6) TO ENTER INTO ANY BUILDING OR PROPERTY IN ANY URBAN
RENEWAL AREA IN ORDER TO MAKE INSPECTIONS, SURVEYS, APPRAISALS,
SOUNDINGS, OR TEST BORINGS, AND TO OBTAIN AN ORDER FOR THIS PURPOSE FROM
THE CIRCUIT COURT FOR THE COUNTY IN WHICH THE MUNICIPALITY IS SITUATED IN
THE EVENT ENTRY IS DENIED OR RESISTED;
(7) TO PLAN, REPLAN, INSTALL, CONSTRUCT, RECONSTRUCT, REPAIR,
CLOSE, OR VACATE STREETS, ROADS, SIDEWALKS, PUBLIC UTILITIES, PARKS,
PLAYGROUNDS, AND OTHER PUBLIC IMPROVEMENTS IN CONNECTION WITH AN
URBAN RENEWAL PROJECT; AND TO MAKE EXCEPTIONS FROM BUILDING
REGULATIONS;
(8) TO GENERALLY ORGANIZE, COORDINATE, AND DIRECT THE
ADMINISTRATION OF THE PROVISIONS OF THIS APPENDIX AS THEY APPLY TO THE
MUNICIPALITY IN ORDER THAT THE OBJECTIVE OF REMEDYING SLUM AND
BLIGHTED AREAS AND PREVENTING ITS CAUSES WITHIN THE MUNICIPALITY MAY BE
PROMOTED AND ACHIEVED MOST EFFECTIVELY; AND
(9) TO EXERCISE ALL OR ANY PART OR COMBINATION OF THE POWERS
GRANTED IN THIS APPENDIX.
A1-104. ESTABLISHMENT OF URBAN RENEWAL AGENCY.
(A) A MUNICIPALITY MAY ITSELF EXERCISE ALL THE POWERS GRANTED BY
THIS APPENDIX, OR MAY, IF ITS LEGISLATIVE BODY BY ORDINANCE DETERMINES
THE ACTION TO BE IN THE PUBLIC INTEREST, ELECT TO HAVE THE POWERS
EXERCISED BY A SEPARATE PUBLIC BODY OR AGENCY.
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- 70 -
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