(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 the Village Zoning Code and regulations and shall henceforth use the premises in accordance with all applicable provisions of the Zoning Code 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 may further provide for reversion to the village. 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 Zoning Code and may provide for a right of immediate re- entry by the village in such event.
(b) The Village Administrator 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 Administrator 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. 01-07, passed 3-20-2001)