(a) Premises sold under the provisions of this chapter shall provide in the instrument of conveyance that the purchaser, his successor and assigns, shall rehabilitate or develop the premises in accordance with all applicable Building Code and Zoning Code regulations of the City and shall henceforth use the premises in accordance with all applicable provisions of the premises in accordance with all applicable provisions of the Building Code and Zoning Code and shall eliminate any blight thereon and prevent the recurrence of any 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 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 Building Code and Zoning Code and the Codified Ordinances and shall provide for a right of immediate re-entry by the City in such event.
(b) The Mayor, with the approval of Council, 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 City. No land shall be sold by the Mayor 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 covenant to be contained in the deed from the City to the redeveloper.
(Ord. 10-1990. Passed 5-21-90.)