99.450. Authority may dispose of property, how. - Missouri Statutes

Authority may dispose of property, how.

99.450. Property in a land clearance project may be disposedof as follows:

(1) An authority may sell, lease, exchange or otherwisetransfer real property or any interest therein in a landclearance project area to any redeveloper for residential,recreational, commercial, industrial or other uses or for publicuse in accordance with the redevelopment plan, subject to suchcovenants, conditions and restrictions as may be deemed to be inthe public interest or to carry out the purposes of this law;provided that such sale, lease, exchange or other transfer, andany agreement relating thereto, may be made only after, orsubject to, the approval of the redevelopment plan by thegoverning body of the community. Such real property shall besold, leased or transferred at its fair value for uses inaccordance with the redevelopment plan notwithstanding such valuemay be less than the cost of acquiring and preparing suchproperty for redevelopment. In determining the fair value ofreal property for uses in accordance with the redevelopment plan,an authority shall take into account and give consideration tothe uses and purposes required by such plan; the restrictionsupon, and the covenants, conditions and obligations assumed bythe redeveloper of such property; the objectives of theredevelopment plan for the prevention of the recurrence ofblighted, or insanitary areas; and such other matters as theauthority shall specify as being appropriate. In fixing rentalsand selling prices, an authority shall give consideration toappraisals of the property for such uses made by land expertsemployed by the authority.

(2) An authority shall, by public notice published at leasttwo times in a newspaper having a general circulation in its areaof operation, prior to the consideration of any redevelopmentcontract proposal, invite proposals from, and make available allpertinent information to private redevelopers or any personsinterested in undertaking the redevelopment of an area, or anypart thereof, which the governing body has declared to be in needof redevelopment. Such notice shall identify the area, and shallstate that such further information as is available may beobtained at the office of the authority. The authority shallconsider all redevelopment proposals and the financial and legalability of the prospective redevelopers to carry out theirproposals and may negotiate with any redevelopers for proposalsfor the purchase or lease of any real property in the landclearance project area. The authority may accept suchredevelopment contract proposal as it deems to be in the publicinterest and in furtherance of the purposes of this law, providedthat the authority has, not less than thirty days prior thereto,notified the governing body in writing of its intention to acceptsuch redevelopment contract proposal. Thereafter, the authoritymay execute such redevelopment contract in accordance with theprovisions of subdivision (1) of this section and deliver deeds,leases and other instruments and take all steps necessary toeffectuate such redevelopment contract. In its discretion, theauthority may, with regard to the foregoing provisions of thissubdivision, dispose of real property in a land clearance projectarea to private redevelopers for redevelopment under suchreasonable competitive bidding procedures as it shall prescribe,subject to the provisions of subdivision (1).

(3) In carrying out a land clearance project, an authoritymay:

(a) Convey to the community in which the project is located,such real property as, in accordance with the redevelopment plan,is to be laid out into streets, alleys and public ways, thispower being additional to and not limiting any and all otherpowers of conveyance of property to communities expressed hereingenerally or otherwise;

(b) Grant servitudes, easements and rights-of-way for publicutilities, sewers, streets and other similar facilities, inaccordance with the redevelopment plan; and

(c) Convey to the municipality, county or other appropriatepublic body, such real property as, in accordance with theredevelopment plan, is to be used for parks, schools, publicbuildings, facilities or other public purposes.

(4) An authority may temporarily operate and maintain realproperty in a land clearance project area pending the dispositionof the property for redevelopment, without regard to theprovisions of subdivisions (1) and (2) above, for such uses andpurposes as may be deemed desirable even though not in conformitywith the redevelopment plan.

(L. 1951 p. 300 § 7)