The advertisement required in Section 321.13 shall state that the bidder will agree to redevelop or rehabilitate the site in such manner as will best carry out the intention of the community development plan for such area, and shall require that the successful bidder shall enter into a project agreement with the City in which the bidder shall agree, in addition to such other terms and conditions as may be required by the Board of Control, and in Federally assisted projects, the agency of the United States government concerned therewith, to develop the land which he or she will purchase thereunder or rehabilitate the property acquired, for such uses only as permitted in the community development plan for the area. Such advertisement shall further specify a fixed price for the sale of the proposed site or shall leave the price for such sale a matter of competition between bidders, as determined by the Board. In no event, in Federally assisted projects, shall the price be less than the minimum fixed by re-use appraisal as approved by the agency of the United States government concerned therewith.
(Ord. No. 1492-66. Passed 12-12-66, eff. 12-14-66)