(a) Property 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 property in accordance with all applicable provisions of the Codified Ordinances of Loveland and the City's Comprehensive Master Development Plan, and shall henceforth use the property in accordance with all applicable provisions of the Codified Ordinances of Loveland and the Comprehensive Master Development Plan for the City of Loveland, 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 City if blight does recur upon the property 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 (Part Elevens) and shall provide for a right of immediate re-entry by the City in such event.
(b) The City Manager is hereby authorized to negotiate for the sale of property acquired under the provisions of this chapter which are not to be retained by the City. No land shall be sold by the City Manager except pursuant to a special ordinance of Council authorizing such sale.
(Ord. 2021-60. Passed 6-8-21.)