ROBERT L. EHRLICH, JR., Governor                             Ch. 400

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 ANY 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 DISPOSE OF REAL PROPERTY IN AN URBAN
RENEWAL AREA TO PRIVATE PERSONS. THE MUNICIPALITY MAY, BY PUBLIC NOTICE
BY PUBLICATION IN A NEWSPAPER HAVING A GENERAL CIRCULATION IN THE
COMMUNITY INVITE PROPOSALS FROM AND MAKE AVAILABLE ALL PERTINENT
INFORMATION TO PRIVATE REDEVELOPERS OR ANY PERSONS INTERESTED IN
UNDERTAKING TO REDEVELOP OR REHABILITATE AN URBAN RENEWAL AREA, OR
ANY PART THEREOF. THE NOTICE SHALL IDENTIFY THE AREA, OR PORTION
THEREOF, AND SHALL STATE THAT PROPOSALS SHALL BE MADE BY THOSE
INTERESTED WITHIN A SPECIFIED PERIOD. THE MUNICIPALITY SHALL CONSIDER
ALL REDEVELOPMENT OR REHABILITATION PROPOSALS AND THE FINANCIAL AND
LEGAL ABILITY OF THE PERSONS MAKING PROPOSALS TO CARRY THEM OUT, AND
MAY NEGOTIATE WITH ANY PERSONS FOR PROPOSALS FOR THE PURCHASE, LEASE,
OR OTHER TRANSFER OF ANY REAL PROPERTY ACQUIRED BY THE MUNICIPALITY IN
THE URBAN RENEWAL AREA. THE MUNICIPALITY MAY ACCEPT ANY PROPOSAL AS IT
DEEMS TO BE IN THE PUBLIC INTEREST AND IN FURTHERANCE OF THE PURPOSES OF
THIS SUBHEADING. THEREAFTER, THE MUNICIPALITY MAY EXECUTE AND DELIVER
CONTRACTS, DEEDS, LEASES, AND OTHER INSTRUMENTS AND TAKE ALL STEPS
NECESSARY TO EFFECTUATE THE TRANSFERS.

(C)     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
SUBSECTION (A), FOR USES AND PURPOSES CONSIDERED DESIRABLE EVEN THOUGH
NOT IN CONFORMITY WITH THE URBAN RENEWAL PLAN.

(D)     ANY INSTRUMENT EXECUTED BY THE MUNICIPALITY AND PURPORTING
TO CONVEY ANY RIGHT, TITLE, OR INTEREST IN ANY PROPERTY UNDER THIS
APPENDIX SHALL BE PRESUMED CONCLUSIVELY TO HAVE BEEN EXECUTED IN
COMPLIANCE WITH THE PROVISIONS OF THIS APPENDIX INSOFAR AS TITLE OR
OTHER INTEREST OF ANY BONA FIDE PURCHASERS, LESSEES, OR TRANSFEREES OF
THE PROPERTY IS CONCERNED.

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