(a) The City may sell, lease or otherwise transfer real property or any interest therein acquired by it, and may enter into contracts with respect thereto, in any urban renewal district for residential, recreational, commercial, industrial or other uses or for public use, or may retain such property or interest for public use, in accordance with the plan, subject to such covenants, conditions and restrictions, including covenants running with the land, as it may deem to be necessary or desirable to assist in preventing the development or spread of future slums or blighted areas or to otherwise carry out the purposes of this chapter.
(b) The City may dispose of real property in an urban renewal district to persons or other legal entities as hereinafter provided in this subsection (b). The City shall offer all lands to be disposed of by the City in such manner and under such procedures as shall, consistent with the public interest, effectively accomplish the purposes of the plan. Offerings to private developers shall be published in at least one newspaper of general circulation in the City, fully advising of the availability and terms of sale for such land, but such publication need not be in special form in and may be made in accordance with good advertising principals rather than in form of a legal notice. Where development is proposed by a nonprofit or limited dividend housing redeveloper or public body or where the plan specifically provides for the redevelopment of land for a designated use by a designated redeveloper, such publication need not be made but the provision for a public hearing thereon as hereinafter set forth shall be required in all dispositions of land in project areas. In the sale of property acquired and rehabilitated by the City, preference shall be given in the sale of such property to qualified persons who have been or will be displaced by urban renewal activity in the City and such sales may be without public offering but subject to the requirement for public hearing as hereafter set out. The City shall consider all such redevelopment or rehabilitation proposals and the financial and legal ability of the persons making such proposals to carry them out, and may negotiate with any persons for proposals for the purchase, lease or other transfer of any real property acquired by the City in the urban renewal area. The City may accept such proposals as it deems to be in the public interest and in furtherance of the purposes of this chapter; provided that a notification of intention to accept such proposal and of a public hearing thereon by Council shall be published in a newspaper of general circulation in the City not less than ten days prior to any such action by Council. Thereafter the City may execute such contract in accordance with the provisions of this chapter and deliver deeds, leases and other instruments and take all steps necessary to effectuate such contract. Requirements in this section shall be exclusive and controlling as to sale or lease of property in urban renewal areas notwithstanding other provisions of the Municipal Code relating to sale or lease of lands. The City may enter into temporary leases on a month-to-month basis with any owner or tenant in occupancy at the time of acquisition without competitive bidding.
(Ord. 170-04. Passed 3-23-04.)