100.410. Property in a project, how disposed of. - Missouri Statutes

Property in a project, how disposed of.

100.410. Property in a project may be disposed of asfollows:

(1) An authority may sell, lease, exchange or otherwisetransfer real property, including land and improvements asprovided for in the project, or any interest therein in a projectarea to any developer for industrial and commercial or relateduses or for public use in accordance with the plan, subject tosuch covenants, conditions and restrictions as may be deemed tobe in the public interest or to carry out the purposes of thislaw; provided that such sale, lease, exchange or other transfer,and any agreement relating thereto, may be made only after, orsubject to, the approval of the plan by the governing body of thecity. Such real property shall be sold, leased or transferred atits fair value for uses in accordance with the plannotwithstanding such value may be less than the cost of suchproperty to the authority. In determining the fair value of realproperty for uses in accordance with the plan, an authority shalltake into account and give consideration to the uses and purposesrequired by such plan; the restrictions upon, and the covenants,conditions and obligations assumed by, the developer of suchproperty; the objectives of the plan for the prevention of therecurrence of blighted, insanitary or undeveloped industrialareas; and such other matters as the authority shall specify asbeing appropriate. In fixing rentals and selling prices, anauthority shall give consideration to appraisals of the propertyfor such uses made by experts employed 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 industrialdevelopment contract proposal, invite proposals from, and makeavailable all pertinent information to, private industrialdevelopers or any persons interested in undertaking thedevelopment of an area, or any part thereof, which the governingbody has declared to be in need of industrial development. Suchnotice shall identify the area and shall state that such furtherinformation as is available may be obtained at the office of theauthority. The authority shall consider all proposals and thefinancial and legal ability of the prospective developers tocarry out their proposals and may negotiate with any industrialdeveloper for proposals for the purchase or lease of any realproperty in the industrial clearance project area. The authoritymay accept such industrial development contract proposal as itdeems to be in the public interest and in furtherance of thepurposes of this law; provided that the authority has, not lessthan thirty days prior thereto, notified the governing body inwriting of its intention to accept such industrial developmentcontract proposal. Thereafter, the authority may execute suchindustrial development contract in accordance with the provisionsof subdivision (1) of this section and deliver deeds, leases andother instruments and take all steps necessary to effectuate suchindustrial development contract. In its discretion, theauthority may, with regard to the foregoing provisions of thissubdivision, dispose of real property in a project area toprivate developers for redevelopment under such reasonablecompetitive bidding procedures as it shall prescribe, subject tothe provisions of subdivision (1).

(3) In carrying out a project, an authority may:

(a) Convey to the city such real property as, in accordancewith the development plan, is to be laid out into streets, alleysand public ways, this power being additional to and not limitingany and all other powers of conveyance of property to citiesexpressed herein generally or otherwise;

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

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

(4) An authority may temporarily operate and maintain realproperty in a project area pending the disposition of theproperty for industrial development, 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 plan.

(L. 1967 p. 172 § 12, A.L. 1980 H.B. 1477)