§ 2-262. Disposal of urban renewal property.

(a)

The County may dispose of real property in an urban renewal area to private persons only under reasonable competitive bidding procedures as it shall prescribe. The County may, by public notice by publication in a newspaper having general circulation in the community (not less than sixty (60) days prior to the execution of any contract to sell, lease or otherwise transfer real property and prior to the delivery of any instrument of conveyance with respect thereto under the provisions of this Division) invite proposals from and make available all pertinent information to private redevelopers or any persons interested in undertaking to redevelop or rehabilitate an urban renewal area, or any part thereof.

(b)

The notice shall identify the area, or portion thereof, and state that proposals shall be made by those interested within a specified period of not less than sixty (60) days after the first day of publication of the notice. Any further available information may be obtained at the office designated in the notice.

(c)

The County shall consider all such redevelopment or rehabilitation proposals and the financial and legal ability of the persons making such proposal 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 County in the urban renewal area. The County may accept such proposals as it deems to be in the public interest and in furtherance of the purposes of this Division. Thereafter, the County executes and delivers contracts, deeds, leases and other instruments and takes all steps necessary to effectuate such transfers.

(Laws 1963, ch. 778, Sec. 6; PLL 1963, Sec. 18-17)