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If the owner of property in an urban renewal area is willing to make the use of his or her property conform to the urban renewal plan the City Manager is of the opinion that the acquisition of such owner's property will not be necessary to carry out the urban renewal plan if the owner makes his or her property conform to the urban renewal plan, then in such case the City Manager, in lieu of acquiring such property may, on behalf of the city, enter into an agreement with such owner in which the owner agrees to conform his or her land, the structures thereon and the use thereof to the urban renewal plan within the time set forth in the agreement. The City Manager may require as a condition to entering into such agreement that the owner furnish such security for the performance of his or her obligations under the agreement as the City Manager believes is necessary in order to protect the interests of the city.
(Ord. 31-1988, passed 11-2-88)