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2007 Vetoed Bills and Messages
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S.B.1011
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(C) ON THE APPROVAL BY THE MUNICIPALITY OF AN URBAN RENEWAL
PLAN OR OF ANY MODIFICATION OF IT, THE PLAN OR MODIFICATION SHALL BE
CONSIDERED TO BE IN FULL FORCE AND EFFECT FOR THE RESPECTIVE URBAN
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, BY ORDINANCE, 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 ON,
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 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
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- 4556 -
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