97-92 AMENDING CITY CODE - CHAPTER 49.1

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4. REDEVELOPMENT PLAN. (A) The City Council may, by ordinance or resolution, adopt and publish a commercial redevelopment plan for any blight or conservation azea designated as herein provided. (B) Before the Council adopts any commercial redevelopment plan,the Plan Commission shall hold a public hearing regarding such plan. Notice of such hearing shall be given as provided in Section 3 hereof. Property owners and the public generally may appear and be heard. (C) The public hearing required hereby may be held simultaneously with the hearing required by Section 3. �, 5. POWERS OF COLTNCIL. In eliminating any blighting conditions in any blight or 'I conservation area or in carrying out a final commercial redevelopment plan,the Council may: (a) Acquire by purchase, gift, condemnation or otherwise as provided in this Chapter the fee simple title to all or any part of the real property in any redevelopment area; (b) Clear any area acquired,by demolition or removal of existing buildings and structures; (c) Renovate or rehabilitate any structure or building acquired, or if any structure or building or the land supporting it has not been acquired, to permit the owner to renovate or rebuild the structure or building in accordance with the redevelopment plan; (d) Construct or acquire by gift or purchase any commercial project and rent or lease such commercial projects to commercial or housing concerns or entities engaged in providing housing and ancillary services; (e) Sell and convey commercial projects, including without limitation the sale and conveyance subject to a mortgage, for such price and at such time as the Council may determine;