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Martin O'Malley, Governor
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S.B.1009
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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 ON,
AND THE COVENANTS, CONDITIONS, AND OBLIGATIONS ASSUMED BY THE
PURCHASES 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 OF 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 THE PURCHASER OR LESSEE HAS
COMPLETED THE CONSTRUCTION OF ANY OR ALL IMPROVEMENTS WHICH THE
PURCHASER OR LESSEE HAS BEEN OBLIGATED 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, BY ORDINANCE, 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,
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- 4541 -
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