, 1959-02-04
TIE ST. CROIX AVIS
LEGISLATIVE RECORD
Continued from yesterday


% The purchasers or lessees and their successors
and assigns shall be obligated to devote such real property
only to the uses specified in the urban renewal plan, and
may be obligated to comply with such other requirements
as the Authority may determine to be in the public inter-
est or the Federal Government may determine to be
necessary as a condition Of Federal aid, including the obi
cation to begin and to complete within q reasonable time
any Improvements on such real property required by the
urban renewal plan and the new uses specified therein:
Provided. that any obligation to begin construction of inn
provements shall not apply to mortgages and others who
acquire an interest in such property as the result OF the
enforcement of any lien or claim thereon.
(c) Such real property or interest shall be sold,
leased, otherwise transferred, or retained at not less than
its fair value for uses in accordance with the urban re-
neWal plan. In determining the fair value OF real property
for uses in accordance with the urban renewal plan, the
Authority shall take into account and give consideration
to the uses provided in such plan; the restrictions upon,
and the covenants, conditions, and OBSERVATION-DISCLOSURES by
the purchaser or lessee or by the Authority retaining the
property; the benefits to be derived by such purchaser or
lessee in acquiring, or by the Authority in retaining, such
real property in an urban renewal area; and the detectives
of such plan for the prevention Of the recurrence Of SUM
or blighted areas. The Authority may retain or employ
qualified appraisers and land valuation experts to appraise
the value Of such real property in accordance with the
standards here prescribed, which appraiSals shall be adj
visory in nature only for the purpose Of aiding and assist
ing the Authority in finding, determining and establishing
the fair value of such realproperty for uses IN accordance
with the urban renewal plan.
Id The Authority in any instrument Of conveyance
to a purchaser or lessee may provide that such purchaser
or lessee shall be without the power to sell, lease or other
wise transfer the real property without the prior written
consent Of the Authority until he has completed the con-
struction of any and all improvements which he has obi
gated himself to construct thereon; and the Authority NAV
provide, in any such instrument of conveyance, that such
real property shall revert to or revest in the Authority,
at its discretion, upon a breach or violation of any condi-.
ton, covenant, restriction, undertaking, or other require
ment relating to the use OF the property or otherwise,
without relieving any purchaser or lessee and successors
or assigns of any obligation assumed by such purchaser or
lessee, and without liability on the part of the Authority
for any claim arising from such ~revesting or reversion.
The Authority, upon a certifcation by it to q court Of COM
petent jurisdiction that any purchaser or lessee or their.
successors and assigns has preached or violated any con-
dition, covenant, restriction, Undertaking, or requirement,
shall be entitled to immediate relief without bond or LA
bility for damages) restraining and enjoining any such
breach or violation, pending the determination Of the is
sues in the controversy.
(e) The inclusion in any such contract Or convey