(A) Premises sold under the provisions of this chapter shall provide in the instrument of conveyance that the purchaser, successors and assigns, shall rehabilitate or develop the premises in accordance with all applicable provisions of the Lincoln Heights Municipal Code and Zoning Code regulations of the Village of Lincoln Heights, and shall henceforth use the premises in accordance with all applicable provisions of the Lincoln Heights Municipal Code and Zoning Code of the Village of Lincoln Heights and shall eliminate any blight thereon and prevent the recurrence of blight. Such provisions shall be both covenants and conditions of the conveyance and the instrument of conveyance shall further provide for reversion to the Village of Lincoln Heights if blight does recur upon the premises or the use, development or rehabilitation thereof is not carried out in accordance with the terms of the conveyance and the provisions of the Lincoln Heights Municipal Code and the Zoning Code of the Village of Lincoln Heights and shall provide for a tight of immediate re-entry by the Village of Lincoln Heights in such event.
(B) The Village Manager is hereby authorized to negotiate for the sale of premises acquired under the provisions of this chapter which are not to be retained by the village. No land shall be sold by the Village Manager except pursuant to a special ordinance of Council authorizing such sale which ordinance shall prescribe in detail the terms and conditions upon which such sale is to be made and the covenants to be contained in the deed from the village to the redeveloper.
(Ord. 2002-O-12, passed 3-11-2002)