LAWRENCE J. HOGAN, JR., Governor Ch. 600 – 1 – Chapter 600 (House Bill 543) AN ACT concerning Town of Hancock (Washington County) – Urban Renewal Authority for Blight Clearance FOR the purpose of granting the Town of Hancock in Washington County the authority to exercise urban renewal powers in areas zoned for commercial use for blight clearance and redevelopment under Article III, Section 61 of the Maryland Constitution; authorizing the municipality to levy certain taxes and issue general obligation bonds and revenue bonds to carry out urban renewal powers; and generally relating to urban renewal authority for blight clearance for the Town of Hancock in Washington County. BY adding to Chapter 71 – Charter of the Town of Hancock Section A1–101 through A1–114 to be under the new heading “Appendix I – Urban Renewal Authority for Blight Clearance” Public Local Laws of Maryland – Compilation of Municipal Charters (2015 Replacement Edition, Revisions Current as of November 2021) SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, That the Public Local Laws of Maryland – Compilation of Municipal Charters read as follows: Chapter 71 – Charter of the Town of Hancock APPENDIX I – URBAN RENEWAL AUTHORITY FOR BLIGHT CLEARANCE A1–101. DEFINITIONS. (A) IN THIS APPENDIX THE FOLLOWING WORDS HAVE THE MEANINGS INDICATED. (B) “BLIGHTED AREA ” MEANS AN AREA OR SIN GLE PROPERTY IN WHIC H THE BUILDING OR BUILDINGS HAVE DECLINED IN PRO DUCTIVITY BY REASON OF OBSOLESCENCE , DEPRECIATION , OR OTHER CAUSES TO A N EXTENT THAT THEY NO LONGER JUSTIFY FUNDA MENTAL REPAIRS AND A DEQUATE MAINTENANCE . (C) “BONDS” MEANS ANY BONDS (INCLUDING REFUNDING BONDS), NOTES, INTERIM CERTIFICATES , CERTIFICATES OF INDE BTEDNESS, DEBENTURES , OR OTHER OBLIGATIONS . Ch. 600 2022 LAWS OF MARYLAND – 2 – (D) “FEDERAL GOVERNMENT ” MEANS THE UNITED STATES OF AMERICA OR ANY AGENCY OR INSTRU MENTALITY, CORPORATE OR OTHERWI SE, OF THE UNITED STATES OF AMERICA. (E) “MUNICIPALITY” MEANS THE TOWN OF HANCOCK, MARYLAND. (F) “PERSON” MEANS ANY INDIVIDUAL , FIRM, PARTNERSHIP , CORPORATION , COMPANY, ASSOCIATION, JOINT STOCK ASSOCIAT ION, OR BODY POLITIC. IT INCLUDES ANY TRUST EE, RECEIVER, ASSIGNEE, OR OTHER PERSON ACTING IN SIMILAR REPRESENTATIVE C APACITY. (G) “URBAN RENEWAL AREA ” MEANS A BLIGHTED ARE A WHICH THE MUNICIPALITY DESIGNA TES AS APPROPRIATE F OR AN URBAN RENEWAL PROJECT. (H) “URBAN RENEWAL PLAN ” MEANS A PLAN , AS IT EXISTS FROM TI ME TO TIME, FOR AN URBAN RENEWAL PROJECT. THE PLAN SHALL BE SUF FICIENTLY COMPLETE TO INDICATE ANY LAND ACQUISITION , DEMOLITION, AND REMOVAL OF STRUCTURES , REDEVELOPMENT , IMPROVEMENTS , AND REHABILITATION A S MAY BE PROPOSED TO BE CARRI ED OUT IN THE URBAN RENEWAL AREA , ZONING AND PLANNING CH ANGES, IF ANY, LAND USES, MAXIMUM DENSITY , AND BUILDING REQUIREMENTS . (I) “URBAN RENEWAL PROJECT ” MEANS UNDERTAKINGS A ND ACTIVITIES OF A MUNICIPALITY IN AN URBAN RENEWAL ARE A FOR THE ELIMINATIO N AND FOR THE PREVENTION OF TH E DEVELOPMENT OR SPR EAD OF BLIGHT, AND MAY INVOLVE CLEARANCE AND REDEVE LOPMENT IN AN URBAN RENEWAL AREA , OR REHABILITATION OR CO NSERVATION IN AN URB AN RENEWAL AREA , OR ANY COMBINATION OR PART OF THEM IN ACCORDANC E WITH AN URBAN RENE WAL PLAN. THESE UNDERTAKINGS AN D ACTIVITIES MAY INC LUDE: (1) ACQUISITION OF A BLIG HTED AREA OR PORTION OF THE BLIGHTED AREA ; (2) DEMOLITION AND REMOVA L OF BUILDINGS AND I MPROVEMENTS ; (3) INSTALLATION , CONSTRUCTION OR RECO NSTRUCTION OF STREETS, UTILITIES, PARKS, PLAYGROUNDS , AND OTHER IMPROVEMEN TS NECESSARY FOR CARRYING O UT THE URBAN RENEWAL OBJECTIVES OF THIS APPENDIX IN ACCORDAN CE WITH THE URBAN RE NEWAL PLAN ; (4) DISPOSITION OF ANY PR OPERTY ACQUIRED IN T HE URBAN LAWRENCE J. HOGAN, JR., Governor Ch. 600 – 3 – RENEWAL AREA , INCLUDING SALE , INITIAL LEASING , OR RETENTION BY THE MUNICIPALITY ITSELF , AT ITS FAIR VALUE FO R USES IN ACCORDANCE WITH THE URBAN RENEWAL PLAN ; (5) CARRYING OUT PLANS FO R A PROGRAM OF VOLUN TARY OR COMPULSORY REPAIR AN D REHABILITATION OF BUILDINGS OR OTHER IMPROVEMENTS IN ACCO RDANCE WITH THE URBA N RENEWAL PLAN ; (6) ACQUISITION OF ANY OT HER REAL PROPERTY IN THE URBAN RENEWAL AREA WHERE N ECESSARY TO ELIMINAT E UNHEALTHFUL , UNSANITARY, OR UNSAFE CONDITIONS , LESSEN DENSITY , ELIMINATE OBSOLETE O R OTHER USES DETRIMENTAL TO THE P UBLIC WELFARE , OR OTHERWISE TO REMO VE OR PREVENT THE SPREAD OF BLIGHT OR DETERIORATION , OR TO PROVIDE LAND F OR NEEDED PUBLIC FACILITIES ; AND (7) THE PRESERVATION , IMPROVEMENT , OR EMBELLISHMENT OF HISTORIC STRUCTURES OR MONUMENTS . A1–102. POWERS. (A) THE MUNICIPALITY MAY UNDERTAKE AND CARRY OUT URBAN RENEWAL PROJECTS IN AREAS OF THE MUNI CIPALITY THAT ARE ZO NED FOR COMMERCIAL USE. (B) THESE PROJECTS SHALL BE LIMITED: (1) TO BLIGHT CLEARANCE IN BLIGHTE D AREAS AND REDEVELOPMENT OR THE REHABILITATION OF BL IGHTED AREAS ; (2) TO ACQUIRE IN CONNEC TION WITH THOSE PROJ ECTS, WITHIN THE CORPORATE LIMITS OF THE MUNICIPALITY , LAND AND PROPERTY OF EVERY KIND AND ANY RIGHT , INTEREST, FRANCHISE, EASEMENT, OR PRIVILEGE , INCLUDING LAND OR PR OPERTY AND ANY RIGHT OR INTEREST ALREADY DEVOTED TO PUBLIC USE, BY PURCHASE, LEASE, GIFT, CONDEMNATION , OR ANY OTHER LEGAL MEANS; AND (3) TO SELL, LEASE, CONVEY, TRANSFER, OR OTHERWISE DISPOSE OF ANY OF THE LAND OR P ROPERTY, REGARDLESS OF WHETHE R OR NOT IT HAS BEEN DEVELOPED , REDEVELOPED , ALTERED, OR IMPROVED AND IRRE SPECTIVE OF THE MANNER OR MEANS IN O R BY WHICH IT MAY HA VE BEEN ACQUIRED , TO ANY PRIVATE, PUBLIC, OR QUASI–PUBLIC CORPORATION , PARTNERSHIP , ASSOCIATION, PERSON, OR OTHER LEGAL ENTIT Y. Ch. 600 2022 LAWS OF MARYLAND – 4 – (C) LAND OR PROPERTY TAKE N BY THE MUNICIPALIT Y FOR ANY OF THESE PURPOSES OR IN CONNECTION WIT H THE EXERCISE OF AN Y OF THE POWERS WHIC H ARE GRANTED BY THIS APPENDIX TO THE MUNI CIPALITY BY EXERCISI NG THE POWER OF EMINENT DOM AIN MAY NOT BE TAKEN WITHOUT JUST COMPENS ATION, AS AGREED ON BETWEEN THE PARTIES, OR AWARDED BY A JURY , BEING FIRST PAID OR TENDERED TO THE P ARTY ENTITLED TO THE COMPENSATION . (D) ALL LAND OR PROPERTY NEEDED OR TAKEN BY T HE EXERCISE OF THE POWER OF EMINENT DOM AIN BY THE MUNICIPAL ITY FOR ANY OF THESE PURPOSES OR IN CONNECTION WIT H THE EXERCISE OF AN Y OF THE POWERS GRANTED BY THIS APPENDIX IS DECLARED TO BE NEEDED OR TAKE N FOR PUBLIC USES AN D PURPOSES. (E) ANY OR ALL OF THE ACT IVITIES AUTHORIZED P URSUANT TO THIS APPENDIX CONSTITUTE GOVERNMENTAL FUNCTIO NS UNDERTAKEN FOR PU BLIC USES AND PURPOSES AN D THE POWER OF TAXATION MAY BE EXER CISED, PUBLIC FUNDS EXPENDED , AND PUBLIC CREDIT EX TENDED IN FURTHERANC E OF THEM. A1–103. ADDITIONAL POWERS . THE MUNICIPALITY HAS THE FOLLOWING ADDITI ONAL POWERS . THESE POWERS ARE DECLARED TO BE NECESSARY AND PROPER TO CARRY INTO FULL FORCE AND EFFECT THE SPECIFIC POWERS GRAN TED IN THIS APPENDIX AND TO FULLY ACCOMPLISH THE PURPOSES AND OBJECTS CONTEMPLATED BY THE PROVISIONS OF THIS S ECTION: (1) TO MAKE OR HAVE MADE ALL SURVEYS AND PLAN S NECESSARY TO THE CARRYING OUT OF THE PURPOSES OF THIS APPENDIX AND TO ADOPT OR APPROVE, MODIFY, AND AMEND THOSE PLAN S. THESE PLANS MAY INCLU DE, BUT ARE NOT LIMITED TO : (I) PLANS FOR CARRYING OU T A PROGRAM OF VOLUN TARY OR COMPULSORY REPAIR AN D REHABILITATION OF BUILDINGS AND IMPROV EMENTS; (II) PLANS FOR THE ENFORCE MENT OF CODES AND REGULATIONS RELATING TO THE USE OF LAND A ND THE USE AND OCCUP ANCY OF BUILDINGS AND IMPROV EMENTS AND TO THE CO MPULSORY REPAIR , REHABILITATION , DEMOLITION, OR REMOVAL OF BUILDI NGS AND IMPROVEMENTS ; AND (III) APPRAISALS, TITLE SEARCHES , SURVEYS, STUDIES, AND OTHER PLANS AND WORK NECESSARY TO PREPARE FOR THE UNDERTAKING OF LAWRENCE J. HOGAN, JR., Governor Ch. 600 – 5 – URBAN RENEWAL PROJEC TS AND RELATED ACTIV ITIES, AND TO APPLY FOR , ACCEPT, AND UTILIZE GRANTS O F FUNDS FROM THE FED ERAL GOVERNMENT OR ANY OTHER GOVERNMENTAL ENTITY FOR THOSE PURPOSES ; (2) TO PREPARE PLANS FOR THE RELOCATION OF PE RSONS (INCLUDING FAMILIES , BUSINESS CONCERNS , AND OTHERS ) DISPLACED FROM AN URBAN RENEWAL AREA , AND TO MAKE RELOCATI ON PAYMENTS TO OR WI TH RESPECT TO THOSE PER SONS FOR MOVING EXPENSES AND LOSSES OF PROPERTY FOR WHICH REIMBURSEM ENT OR COMPENSATION IS NOT OTHERWISE MAD E, INCLUDING THE MAKING OF PAYMENTS FINANCED BY THE FEDERAL GOVER NMENT; (3) TO APPROPRIATE WHATEV ER FUNDS AND MAKE WH ATEVER EXPENDITURES AS MAY BE NECESSA RY TO CARRY OUT THE PURPOSES OF THIS APPENDIX, INCLUDING, BUT NOT LIMITED : (I) TO THE PAYMENT OF ANY AND ALL COSTS AND EX PENSES INCURRED IN CONNECTI ON WITH, OR INCIDENTAL TO , THE ACQUISITION OF L AND OR PROPERTY , AND FOR THE DEMOLITI ON, REMOVAL, RELOCATION, RENOVATION, OR ALTERATION OF LAN D, BUILDINGS, STREETS, HIGHWAYS, ALLEYS, UTILITIES, OR SERVICES, AND OTHER STRUCTURES OR IMPROVEMENTS , AND FOR THE CONSTRUCTION , RECONSTRUCTION , INSTALLATION, RELOCATION , OR REPAIR OF STREETS, HIGHWAYS, ALLEYS, UTILITIES, OR SERVICES , IN CONNECTION WITH URBAN RENEWAL PROJEC TS; (II) TO LEVY TAXES AND ASS ESSMENTS FOR THOSE P URPOSES; (III) TO BORROW MONEY AND T O APPLY FOR AND ACCE PT ADVANCES, LOANS, GRANTS, CONTRIBUTIONS , AND ANY OTHER FORM O F FINANCIAL ASSISTANCE FROM THE FEDERAL GOV ERNMENT, THE STATE, COUNTY, OR OTHER PUBLIC BODIES, OR FROM ANY SOURCES , PUBLIC OR PRIVATE , FOR THE PURPOSES OF THIS APPENDIX , AND TO GIVE WHATEVER SECURITY AS MAY BE R EQUIRED FOR THIS FINANCIAL ASSIS TANCE; AND (IV) TO INVEST ANY UR BAN RENEWAL FUNDS HE LD IN RESERVES OR SINKING FUNDS OR ANY OF THESE FUNDS N OT REQUIRED FOR IMME DIATE DISBURSEMENT IN PROP ERTY OR SECURITIES W HICH ARE LEGAL INVES TMENTS FOR OTHER MUNICIPAL FUND S; (4) (I) TO HOLD , IMPROVE, CLEAR, OR PREPARE FOR REDEVELOPM ENT ANY PROPERTY ACQ UIRED IN CONNECTION WITH URBAN RENEWAL PROJECTS ; (II) TO MORTGAGE , PLEDGE, HYPOTHECATE , OR OTHERWISE Ch. 600 2022 LAWS OF MARYLAND – 6 – ENCUMBER THAT PROPER TY; AND (III) TO INSURE OR PROVIDE FOR THE INSURANCE OF THE PROPERTY OR OPERATIO NS OF THE MUNICIPALI TY AGAINST ANY RISKS OR HAZARDS, INCLUDING THE POWER TO PAY PREMIUMS ON A NY INSURANCE ; (5) TO MAKE AND EXECUTE A LL CONTRACTS AND OTH ER INSTRUMENTS NECESSAR Y OR CONVENIENT TO T HE EXERCISE OF ITS P OWERS UNDER THIS APPENDIX , INCLUDING THE POWER TO ENTER INTO AGRE EMENTS WITH OTHER PUBLIC BODIES OR AGENCIES (THESE AGREEMENTS MAY EXTEND OVER ANY PERIOD, NOTWITHSTANDING ANY PROVISION OR RULE OF LAW TO THE CONTRARY ), AND TO INCLUDE IN AN Y CONTRACT FOR FINAN CIAL ASSISTANCE WITH THE FEDERAL GOVERNMENT F OR OR WITH RESPECT TO AN URBAN RENEWAL PROJECT AND RELATED ACTIVITI ES ANY CONDITIONS IM POSED PURSUANT TO FE DERAL LAWS AS THE MUNICIPALITY CONSIDERS REASONABLE AND APPROPRIATE ; (6) TO ENTER INTO ANY BUI LDING OR PROPERTY IN ANY URBAN RENEWAL AREA IN ORDE R TO MAKE INSPECTIO NS, SURVEYS, APPRAISALS, SOUNDINGS, OR TEST BORINGS, AND TO OBTAIN AN ORD ER FOR THIS PURPOSE FROM THE CIRCUIT COURT FO R THE COUNTY IN WHIC H THE MUNICIPALITY I S SITUATED IN THE EVENT ENTRY IS D ENIED OR RESISTED ; (7) TO PLAN, REPLAN, INSTALL, CONSTRUCT , RECONSTRUCT , REPAIR, CLOSE, OR VACATE STREETS , ROADS, SIDEWALKS, PUBLIC UTILITIES , PARKS, PLAYGROUNDS , AND OTHER PUBLIC IMP ROVEMENTS IN CONNECT ION WITH AN URBAN RENEWAL PRO JECT AND TO MAKE EXCEPTIO NS FROM BUILDING REGULATIONS ; (8) TO GENERALLY ORGANIZE , COORDINATE , AND DIRECT THE ADMINISTRATION OF TH E PROVISIONS OF THIS APPENDIX AS THEY APP LY TO THE MUNICIPALITY IN ORDE R THAT THE OBJECTIVE OF REMEDYING BLIGHTE D AREAS AND PREVENTING ITS C AUSES WITHIN THE MUN ICIPALITY MAY BE PRO MOTED AND ACHIEVED MOST EFFEC TIVELY; AND (9) TO EXERCISE ALL OR AN Y PART OR COMBINATIO N OF THE POWERS GRANTED IN TH IS APPENDIX. A1–104. ESTABLISHMENT OF URBA N RENEWAL AGENCY . (A) A MUNICIPALITY MAY ITS ELF EXERCISE ALL THE POWERS GRANTED BY THIS APPENDIX , OR MAY, IF ITS LEGISLATIVE BODY BY ORDINANCE DETERMINES THE ACTION TO BE IN THE PUBLIC INTEREST , ELECT TO HAVE THE PO WERS LAWRENCE J. HOGAN, JR., Governor Ch. 600 – 7 – EXERCISED BY A SEPAR ATE PUBLIC BODY OR A GENCY. (B) IN THE EVENT THE LEGI SLATIVE BODY MAKES T HAT DETERMINATION , IT SHALL PROCEED BY ORDINANCE TO EST ABLISH A PUBLIC BODY OR AGENCY TO UNDERTAKE IN THE MUN ICIPALITY THE ACTIVI TIES AUTHORIZED BY T HIS APPENDIX. (C) THE ORDINANCE SHALL I NCLUDE PROVISIONS ES TABLISHING THE NUMBER OF MEMBERS OF THE PUBLIC BODY OR A GENCY, THE MANNER OF THEIR APPOINTMENT AND RE MOVAL, AND THE TERMS OF THE MEMBERS AND THEIR COMPENSATION . (D) THE ORDINANCE MAY INC LUDE WHATEVER ADDITI ONAL PROVISIONS RELATING TO THE ORGA NIZATION OF THE PUBL IC BODY OR AGENCY AS MAY BE NECESSARY. (E) IN THE EVENT THE LEGI SLATIVE BODY ENACTS THIS ORDINANCE, ALL OF THE POWERS BY THI S APPENDIX GRANTED T O THE MUNICIPALITY , FROM THE EFFECTIVE DATE OF TH E ORDINANCE, ARE VESTED IN THE PU BLIC BODY OR AGENCY ESTABLISHED BY THE O RDINANCE. A1–105. POWERS WITHHELD FROM THE AGENCY. THE AGENCY MAY NOT : (1) PASS A RESOLUTION TO INITIATE AN URBAN RE NEWAL PROJECT PURSUANT TO SECTIONS A1–102 AND A1–103 OF THIS APPENDIX ; (2) ISSUE GENERAL OBLIGAT ION BONDS PURSUANT T O SECTION A1–111 OF THIS APPENDIX ; OR (3) APPROPRIATE FUNDS OR LEVY TAXES AND ASSES SMENTS PURSUANT TO SECTION A1–103(3) OF THIS APPENDIX . A1–106. INITIATION OF PROJECT . IN ORDER TO INITIATE AN URBAN RENEWAL PRO JECT, THE LEGISLATIVE BODY OF THE MUNICIPA LITY SHALL ADOPT A R ESOLUTION WHICH : (1) FINDS THAT ONE OR MOR E BLIGHTED AREAS EXI ST IN THE MUNICIPALITY ; (2) LOCATES AND DEFINES T HE BLIGHTED AREA ; AND Ch. 600 2022 LAWS OF MARYLAND – 8 – (3) FINDS THAT THE REHABI LITATION, REDEVELOPMENT , OR A COMBINATION OF THEM , OF THE AREA OR AREAS , IS NECESSARY AND IN THE INTEREST OF THE PUBL IC HEALTH, SAFETY, MORALS, OR WELFARE OF TH E RESIDENTS OF THE MUN ICIPALITY. A1–107. PREPARATION AND APPRO VAL OF PLAN FOR URBA N RENEWAL PROJECT . (A) IN ORDER TO CARRY OUT THE PURPOSES OF THIS APPENDIX, THE MUNICIPALITY SHALL H AVE PREPARED AN URBA N RENEWAL PLAN FOR B LIGHTED AREAS IN THE MUNICIP ALITY AND SHALL APPROVE TH E PLAN FORMALLY . THE MUNICIPALITY SHALL H OLD A PUBLIC HEARING ON AN URBAN RENEWAL PROJECT AFTER PUBLIC NOTICE OF IT BY PUBLICATION IN A NEWSPAPER HAVIN G A GENERAL CIRCULATION WITHIN T HE CORPORATE LIMITS OF THE MUNICIPALITY . THE NOTICE SHALL DESCRIBE THE T IME, DATE, PLACE, AND PURPOSE OF THE H EARING, SHALL GENERALLY IDENTIFY T HE URBAN RENEWAL ARE A COVERED BY THE PLA N, AND SHALL OUTLINE THE GE NERAL SCOPE OF THE U RBAN RENEWAL PROJECT UNDER CONSIDERATION . FOLLOWING THE HEARING , THE MUNICIPALITY MAY APPROVE A N URBAN RENEWAL PROJEC T AND THE PLAN THERE FOR IF IT FINDS THAT : (1) A FEASIBLE METHOD EXIS TS FOR THE LOCATION OF ANY FAMILIES OR NATURAL PERSONS WHO WILL BE DISPLACED FROM THE U RBAN RENEWAL AREA IN DECE NT, SAFE, AND SANITARY DWELLIN G ACCOMMODATIONS WITHIN THEIR MEANS A ND WITHOUT UNDUE HAR DSHIP TO THE FAMILIE S OR NATURAL PERSONS ; (2) THE URBAN RENEWAL PLA N CONFORMS SUBSTANTI ALLY TO THE MASTER PLAN OF THE M UNICIPALITY AS A WHO LE; AND (3) THE URBAN RENEWAL PLA N WILL AFFORD MAXIMU M OPPORTUNITY , CONSISTENT WITH THE SOUND NEEDS OF THE M UNICIPALITY AS A WHOLE, FOR THE REHABILITATI ON OR REDEVELOPMENT OF THE URBAN RENEWAL AREA BY PRIVATE ENTE RPRISE. (B) AN URBAN RENEWAL PLAN MAY BE MODIFIED AT A NY TIME. IF MODIFIED AFTER THE L EASE OR SALE OF REAL PROPERTY IN THE URBAN RENEWAL PROJECT AREA , THE MODIFICATION MAY BE CONDITIONED ON WH ATEVER APPROVAL OF THE OWNE R, LESSEE, OR SUCCESSOR IN INTE REST AS THE MUNICIPALITY CONSIDE RS ADVISABLE. IN ANY EVENT, IT SHALL BE SUBJECT TO WHATEVER RIGHTS AT LAW OR IN EQUITY AS A LESSEE OR PURCHASE R, OR THE SUCCESSOR OR SUCCESS ORS IN INTEREST, MAY BE ENTITLED TO A SSERT. WHERE THE PROPOSED MODIFIC ATION WILL CHANGE SU BSTANTIALLY THE URBA N LAWRENCE J. HOGAN, JR., Governor Ch. 600 – 9 – RENEWAL PLAN AS APPR OVED PREVIOUSLY BY T HE MUNICIPALITY , THE MODIFICATION SHALL BE APPROVED FO RMALLY BY THE MUNICI PALITY, AS IN THE CASE OF AN ORIGINAL PLAN. (C) ON THE APPROVAL BY TH E MUNICIPALITY OF AN URBAN RENEWAL PLAN OR OF ANY MODIFICATI ON OF IT, THE PLAN OR MODIFICA TION SHALL BE CONSIDERED TO BE IN FULL FORCE AND EFFEC T FOR THE RESPECTIVE U RBAN RENEWAL AREA . THE MUNICIPALITY MAY HAVE THE PLAN OR MOD IFICATION CARRIED OUT IN ACCOR DANCE WITH ITS TERMS . A1–108. DISPOSAL OF PROPERTY IN URBAN RENEWAL ARE A. (A) THE MUNICIPALITY , BY ORDINANCE , MAY SELL, LEASE, OR OTHERWISE TRANSFER REAL PROPER TY OR ANY INTEREST I N IT ACQUIRED BY IT FOR AN URBAN RENEWAL PROJECT TO A NY PERSON FOR RESIDE NTIAL, RECREATIONAL , COMMERCIAL , INDUSTRIAL, EDUCATIONAL , OR OTHER USES OR FOR PUBLIC USE, OR IT MAY RETAIN THE PR OPERTY OR INTEREST F OR PUBLIC USE, IN ACCORDANCE WITH THE URBAN RENEW AL PLAN AND SUBJECT TO WHATEVER COVENANT S, CONDITIONS, AND RESTRICTIONS , INCLUDING COVENANTS RUNNING WITH THE LAND, AS IT CONSIDERS NECE SSARY OR DESIRABLE T O ASSIST IN PREVENTI NG THE DEVELOPMENT OR SPREA D OF FUTURE BLIGHTED AREAS OR TO OTHERWISE CARRY OUT THE PURPOSES OF THIS APPENDIX. THE PURCHASERS OR LES SEES AND THEIR SUCCESSORS AND ASSIG NS SHALL BE OBLIGATE D TO DEVOTE THE REAL PROPERTY ONLY TO THE USES SPE CIFIED IN THE URBAN RENEWAL PLAN AND MAY BE OBLIGATED TO CO MPLY WITH WHATEVER O THER REQUIREMENTS TH E MUNICIPALITY DETERMI NES TO BE IN THE PUB LIC INTEREST, INCLUDING THE OBLIGATION TO BEGIN WITHIN A REASONABLE TIME ANY IMPROVEMENT S ON THE REAL PROPERTY REQUIR ED BY THE URBAN RENE WAL PLAN. THE REAL PROPERTY OR INTEREST MAY NOT BE SOLD , LEASED, OTHERWISE TRANSFERRE D, OR RETAINED AT LESS THAN ITS FAI R VALUE FOR USES IN ACCORDANCE WITH THE URBAN RENEWAL PLAN . IN DETERMINING THE FA IR VALUE OF REAL PRO PERTY FOR USES IN ACCORDANCE WITH T HE URBAN RENEWAL PLA N, THE MUNICIPALI TY SHALL TAKE INTO ACCOUNT AND GIV E CONSIDERATION TO T HE USES PROVIDED IN THE PLAN, THE RESTRICTIONS ON , AND THE COVENANTS , CONDITIONS, AND OBLIGATIONS ASSUMED BY THE PURCH ASER OR LESSEE OR BY THE MUNICIPALITY RET AINING THE PROPERTY, AND THE OBJECTIVES O F THE PLAN FOR THE PRE VENTION OF THE RECURRENCE OF BLIGHT ED AREAS. IN ANY INSTRUMENT OR CONVEYANCE TO A PRIVATE PURCHASER OR LESSEE, THE MUNICIPALITY MAY PROVIDE THAT THE PURCHASER OR LESSEE MAY NOT SELL, LEASE, OR OTHERWISE TRANSFE R THE REAL PROPERTY WITHOU T THE PRIOR WRITTEN CONSENT OF THE MUNIC IPALITY UNTIL THE PURCHASER OR LES SEE HAS COMPLETED TH E CONSTRUCTION OF AN Y OR ALL IMPROVEMENTS WHICH T HE PURCHASER OR LESS EE HAS BEEN OBLIGATE D TO CONSTRUCT ON THE PRO PERTY. REAL PROPERTY ACQUIRE D BY THE MUNICIPALIT Y Ch. 600 2022 LAWS OF MARYLAND – 10 – WHICH, IN ACCORDANCE WITH T HE PROVISIONS OF THE URBAN RENEWAL PLAN , IS TO BE TRANSFERRED , SHALL BE TRANSFERRED AS RAPIDLY AS FEASIB LE IN THE PUBLIC INTEREST CONS ISTENT WITH THE CARR YING OUT OF THE PROV ISIONS OF THE URBAN RENEWAL PL AN. ANY CONTRACT FOR TH E TRANSFER AND THE U RBAN RENEWAL PLAN (OR ANY PART OR PARTS OF THE CONTRACT OR P LAN AS THE MUNICIPALITY DETERMI NES) MAY BE RECORDED IN T HE LAND RECORDS OF T HE COUNTY IN WHICH THE MUNICIPALITY IS SITU ATED IN A MANNER SO AS TO AFFORD ACTUAL OR CONSTRUCTI VE NOTICE OF IT. (B) THE MUNICIPALITY , BY ORDINANCE , MAY DISPOSE OF REAL PROPERTY IN AN URBAN RENEWAL AREA TO PRIVATE PERS ONS. THE MUNICIPALITY MAY , BY PUBLIC NOTICE BY PUB LICATION IN A NEWSPA PER HAVING A GENERAL CIRCULATION IN THE C OMMUNITY, INVITE PROPOSAL S FROM AND MAKE AVAI LABLE ALL PERTINENT INFORM ATION TO PRIVATE RED EVELOPERS OR ANY PER SONS INTERESTED IN UNDERT AKING TO REDEVELOP O R REHABILITATE AN UR BAN RENEWAL AREA , OR ANY PART THEREOF . THE NOTICE SHALL IDEN TIFY THE AREA, OR PORTION THEREOF , AND SHALL STATE THAT PROPOSALS SHALL BE MADE BY THOSE INTERESTED WIT HIN A SPECIFIED PERI OD. THE MUNICIPALITY SHAL L CONSIDER ALL REDEVEL OPMENT OR REHABILITA TION PROPOSALS AND T HE FINANCIAL AND LEGAL ABILITY OF THE PERSO NS MAKING PROPOSALS TO CARRY THEM OUT, AND MAY N EGOTIATE WITH ANY PE RSONS FOR PROPOSALS FOR THE PURCHASE, LEASE, OR OTHER TRANSFER OF ANY REAL PROPERTY AC QUIRED BY THE MUNICIPALITY IN THE URBAN RENEWAL AR EA. THE MUNICIPALITY MAY ACCEPT ANY PROPOSAL AS IT D EEMS TO BE IN THE PU BLIC INTEREST AND IN FURTHERANCE OF THE PURPOSES OF T HIS APPENDIX. THEREAFTER, THE MUNICIPALITY MAY EXECUTE AND DELIVER CONTRACTS, DEEDS, LEASES, AND OTHER INSTRUMENT S AND TAKE ALL STEPS N ECESSARY TO EFFECTUA TE THE TRANSFERS . (C) THE MUNICIPALITY MAY OPERATE TEMPORARILY AND MAINTAI N REAL PROPERTY ACQUIRED BY IT IN AN URBAN RENEW AL AREA FOR OR IN CO NNECTION WITH AN URBAN RENEWA L PROJECT PENDING TH E DISPOSITION OF THE PROPERTY AS AUTHORIZED IN THI S APPENDIX, WITHOUT REGARD TO TH E PROVISIONS OF SUBSECTION (A), FOR USES AND PURPOSE S CONSIDERED DESIRABLE EV EN THOUGH NOT IN CONFORMITY WI TH THE URBAN RENEWAL PLAN. (D) ANY INSTRUMENT EXECUT ED BY THE MUNICIPALI TY AND PURPORTING TO CONVEY ANY RIGHT , TITLE, OR INTEREST IN ANY P ROPERTY UNDER THIS APPENDIX SHALL BE PR ESUMED CONCLUSIVELY TO HAVE BEEN EXECUTED IN COMPLIANCE WITH THE PROVISIONS OF THIS A PPENDIX INSOFAR AS T ITLE OR OTHER INTEREST OF AN Y BONA FIDE PURCHASE RS, LESSEES, OR TRANSFEREES OF THE PROPERTY IS CONC ERNED. LAWRENCE J. HOGAN, JR., Governor Ch. 600 – 11 – A1–109. EMINENT DOMAIN . CONDEMNATION OF LAND OR PROPERTY UNDER TH E PROVISIONS OF THIS APPENDIX SHALL BE IN ACCORDANCE WITH THE PROCEDURE PROVIDED I N THE REAL PROPERTY ARTICLE OF THE ANNOTATED CODE OF MARYLAND. A1–110. ENCOURAGEMENT OF PRIV ATE ENTERPRISE . THE MUNICIPALITY , TO THE EXTENT IT DET ERMINES TO BE FEASIB LE IN CARRYING OUT THE PROVIS IONS OF THIS APPENDI X, SHALL AFFORD MAXIMUM OPPORTUNITY TO THE R EHABILITATION OR RED EVELOPMENT OF ANY UR BAN RENEWAL AREA BY PRIV ATE ENTERPRISE CONSI STENT WITH THE SOUND NEEDS OF THE MUNICIPALITY AS A WHOLE. THE MUNICIPALITY SHAL L GIVE CONSIDERATION TO THIS OBJECTIVE IN EXERCISING ITS POWER S UNDER THIS APPENDI X. A1–111. GENERAL OBLIGATION BO NDS. FOR THE PURPOSE OF FI NANCING AND CARRYING OUT AN URBAN RENEWAL PROJECT AND RELATED ACTIVITIES, THE MUNICIPALITY MAY ISSUE AND SELL ITS GENERAL OBLIGATION BONDS . ANY BONDS ISSUED BY T HE MUNICIPALITY PURSUANT TO THIS SEC TION SHALL BE ISSUED IN THE MANNER AND WI THIN THE LIMITATIONS PRESCRIB ED BY APPLICABLE LAW FOR THE ISSUANCE AND AUTHORIZATION OF GEN ERAL OBLIGATION BOND S BY THE MUNICIPALIT Y, AND ALSO WITHIN LIMITATIO NS DETERMINED BY THE MUNICIPALITY . A1–112. REVENUE BONDS . (A) IN ADDITION TO THE AU THORITY CONFERRED BY SECTION A1–111 OF THIS APPENDIX, THE MUNICIPALITY MAY ISSUE REVENUE BONDS TO FINANCE THE UNDERTAKING OF ANY U RBAN RENEWAL PROJECT AND RELATED ACTIVITI ES. ALSO, IT MAY ISSUE REFUNDI NG BONDS FOR THE PAY MENT OR RETIRE MENT OF THE BONDS ISSUED PREVIOU SLY BY IT. THE BONDS SHALL BE MA DE PAYABLE, AS TO BOTH PRINCIPAL AND I NTEREST, SOLELY FROM THE INCO ME, PROCEEDS, REVENUES, AND FUNDS OF THE MUN ICIPALITY DERIVED FR OM OR HELD IN CONNECTION WITH THE UNDERTAKING AND CARR YING OUT OF URBAN RENEWAL PROJECTS UNDER THIS APPENDIX. HOWEVER, PAYMENT OF THE BONDS , BOTH AS TO PRINCIPAL AND INT EREST, MAY BE FURTHER SECUR ED BY A PLEDGE OF AN Y LOAN, GRANT, OR CONTRIBUTION FROM THE FEDERAL GOVERNME NT OR OTHER SOURCE, IN AID OF ANY URBAN RENEWAL PROJECTS OF THE M UNICIPALITY UNDER THIS APPENDIX, AND BY A MORTGAGE OF ANY URBAN RENEWAL PR OJECT, OR ANY PART OF A PROJECT , TITLE TO WHICH IS IN THE MUNICIPALITY . IN ADDITION, THE MUNICIPALITY MAY ENT ER INTO AN INDENTURE OF TRUST WITH ANY PR IVATE BANKING INSTITUTION OF THI S STATE HAVING TRUST PO WERS AND MAY MAKE IN Ch. 600 2022 LAWS OF MARYLAND – 12 – THE INDENTURE OF TRU ST COVENANTS AND COM MITMENTS REQUIRED BY ANY PURCHASER FOR THE AD EQUATE SECURITY OF T HE BONDS. (B) BONDS ISSUED UNDER TH IS SECTION DO NOT CO NSTITUTE AN INDEBTEDNESS WITHI N THE MEANING OF ANY CONSTITUTIONAL OR ST ATUTORY DEBT LIMITATION OR R ESTRICTION, ARE NOT SUBJECT TO T HE PROVISIONS OF ANY OTHER LAW OR CHARTER RELATING TO THE AUTH ORIZATION, ISSUANCE, OR SALE OF BONDS , AND ARE EXEMPTED SPE CIFICALLY FROM THE R ESTRICTIONS CONTAINED IN §§ 19–205 AND 19–206 OF THE LOCAL GOVERNMENT ARTICLE OF THE ANNOTATED CODE OF MARYLAND. BONDS ISSUED UNDER TH E PROVISIONS OF THIS APPENDIX ARE DE CLARED TO BE ISSUED FOR AN ESSENTIAL PUB LIC AND GOVERNMENTAL PURPOSE AND, TOGETHER WITH INTERE ST ON THEM AND INCOME FROM THEM , ARE EXEMPT FROM ALL TAXES. (C) BONDS ISSUED UNDER TH IS SECTION SHALL BE AUTHORIZED BY RESOLUTION OR ORDINA NCE OF THE LEGISLATI VE BODY OF THE MUNIC IPALITY. THEY MAY BE ISSUED IN ONE OR MORE SERIES A ND SHALL: (1) BEAR A DATE OR DATES; (2) MATURE AT A TIME OR T IMES; (3) BEAR INTEREST AT A RA TE OR RATES; (4) BE IN A DENOMINATION OR DENOMINATIONS ; (5) BE IN A FORM EITHER W ITH OR WITHOUT COUPO N OR REGISTERED ; (6) CARRY A CONVERSION OR REGISTRATION PRIVILE GE; (7) HAVE A RANK OR PRIORI TY; (8) BE EXECUTED IN A MANN ER; (9) BE PAYABLE IN A MEDIU M OF PAYMENT , AT A PLACE OR PLACES , AND BE SUBJECT TO TE RMS OF REDEMPTION (WITH OR WITHOUT PREM IUM); (10) BE SECURED IN A MANNE R; AND (11) HAVE OTHER CHARACTERI STICS, AS ARE PROVIDED BY T HE RESOLUTION , TRUST INDENTURE , OR MORTGAGE ISSUED P URSUANT TO IT. LAWRENCE J. HOGAN, JR., Governor Ch. 600 – 13 – (D) THESE BONDS MAY NOT B E SOLD AT LESS THAN PAR VALUE AT PUBLIC SALES WHICH ARE HELD AFTER NOTICE IS PUBL ISHED PRIOR TO THE S ALE IN A NEWSPAPER HAVING A G ENERAL CIRC ULATION IN THE AREA IN WHICH THE MUNICIPALITY IS LOCA TED AND IN WHATEVER OTHER MEDIUM OF PUBL ICATION AS THE MUNICIPALITY MAY DETERMINE. THE BONDS MAY BE EXCH ANGED ALSO FOR OTHER BONDS ON THE B ASIS OF PAR. HOWEVER, THE BONDS MAY NOT BE SOLD TO THE FEDERAL G OVERNMENT AT PRIVATE SALE AT LESS THAN PA R, AND, IN THE EVENT LESS THAN ALL OF THE AUTHORIZED PR INCIPAL AMOUNT OF TH E BONDS IS SOLD TO THE FEDERAL GOVERNMENT , THE BALANCE MAY NOT BE SOLD AT PRIVATE SALE AT LESS THAN PA R AT AN INTEREST COS T TO THE MUNICIPAL ITY WHICH DOES NOT EXCEED THE INTER EST COST TO THE MUNI CIPALITY OF THE PORT ION OF THE BONDS SOLD TO THE FE DERAL GOVERNMENT . (E) IN CASE ANY OF THE PU BLIC OFFICIALS OF TH E MUNICIPALITY WHOSE SIGNATURES APPEAR ON ANY BONDS OR COUPONS ISSUED UNDER THIS AP PENDIX CEASE TO BE OFFICIAL S OF THE MUNICIPALIT Y BEFORE THE DELIVER Y OF THE BONDS OR IN THE EVEN T ANY OF THE OFFICIA LS HAVE BECOME SUCH AFTER THE DATE OF ISSUE OF THE M, THE BONDS ARE VALID AND BINDING OBLIGATI ONS OF THE MUNICIPALITY IN ACCO RDANCE WITH THEIR TERMS. ANY PROVISION OF ANY LAW TO THE CONTRARY NOTW ITHSTANDING, ANY BONDS ISSUED PUR SUANT TO THIS APPENDIX ARE FULLY N EGOTIABLE. (F) IN ANY SUIT, ACTION, OR PROCEEDING INVOLV ING THE VALIDITY OR ENFORCEABILITY OF AN Y BOND ISSUED UNDER THIS APPENDIX, OR THE SECURITY FOR IT, ANY BOND WHICH RECIT ES IN SUBSTANCE THAT IT HAS BEEN ISSUED B Y THE MUNICIPALITY IN CONN ECTION WITH AN URBAN RENEWAL PROJECT SHAL L BE CONSIDERED CONCLUSIV ELY TO HAVE BEEN ISS UED FOR THAT PURPOSE , AND THE PROJECT SHALL BE CON SIDERED CONCL USIVELY TO HAVE BEEN PLANNED, LOCATED, AND CARRIED OUT IN A CCORDANCE WITH THE P ROVISIONS OF THIS APPENDIX. (G) ALL BANKS, TRUST COMPANIES , BANKERS, SAVINGS BANKS , AND INSTITUTIONS, BUILDING AND LOAN AS SOCIATIONS, SAVINGS AND LOAN ASSOCIATIONS, INVESTMENT COMPANIES, AND OTHER PERSONS CA RRYING ON A BANKING OR INVESTMEN T BUSINESS; ALL INSURANCE COMPAN IES, INSURANCE ASSOCIATIONS, AND OTHER PERSONS CA RRYING ON AN INSURAN CE BUSINESS; AND ALL EXECUTORS , ADMINISTRATORS , CURATORS, TRUSTEES, AND OTHER FIDUCIARIES, MAY LEGALLY INVEST A NY SINKING FUNDS , MONEYS, OR OTHER FUNDS BELONGING TO T HEM OR WITHIN THEIR CONTROL IN ANY BONDS OR OTHER OBLIGATIONS ISSUED B Y THE MUNICIPALITY P URSUANT TO THIS APPE NDIX. HOWEVER, THE BONDS AND OTHER OBLIGATIONS SHALL BE SECURED BY AN AGREEMENT BETWEEN THE ISSUER AND THE FEDER AL GOVERNMENT IN WHI CH THE Ch. 600 2022 LAWS OF MARYLAND – 14 – ISSUER AGREES TO BOR ROW FROM THE FEDERAL GOVERNMENT AND THE F EDERAL GOVERNMENT AGREES TO LEND TO THE ISSUER , PRIOR TO THE MATURIT Y OF THE BONDS OR OTHER OBLIG ATIONS, MONEYS IN AN AMOUNT WHICH (TOGETHER WITH ANY OTHER MONEYS COM MITTED IRREVOCABLY T O THE PAYMENT OF PRI NCIPAL AND INTEREST ON THE BONDS OR OTHER OBLIG ATIONS) WILL SUFFICE TO PAY THE PRINCIPAL OF THE BON DS OR OTHER OBLIGATI ONS WITH INTEREST TO MATURITY ON THEM. THE MONEYS UNDER TH E TERMS OF THE AGREE MENT SHALL BE REQUIRED TO BE USED FOR THE PURPOSE OF P AYING THE PRINCIPAL OF AND THE INTEREST ON THE BOND S OR OTHER OBLIGATIO NS AT THEIR MATURITY . THE BONDS AND OTHER OBLIGATION S SHALL BE AUTHORIZE D SECURITY FOR ALL P UBLIC DEPOSITS. THIS SECTION AUTHORIZES ANY PERSONS OR PUBLI C OR PRIVATE POLITICAL SUBDIVISIO NS AND OFFICERS TO U SE ANY FUNDS OWNED O R CONTROLLED BY THEM F OR THE PURCHASE OF A NY BONDS OR OTHER OBLIGATIONS. WITH REGARD TO LEGAL INVESTMENTS , THIS SECTION MAY NOT BE CONSTRUED T O RELIEVE ANY PERSON OF ANY DUTY OF EXERC ISING REASONABLE CARE IN SELECTING SE CURITIES. A1–113. SHORT TITLE. THIS APPENDIX SHALL B E KNOWN AND MAY BE C ITED AS THE HANCOCK URBAN RENEWAL AUTHORITY FOR BLIGHT CLEARANCE ACT. A1–114. AUTHORITY TO AMEND OR REPEAL. THIS APPENDIX, ENACTED PURSUANT TO ARTICLE III, SECTION 61 OF THE MARYLAND CONSTITUTION, MAY BE AMENDED OR RE PEALED ONLY BY THE GENERAL ASSEMBLY OF MARYLAND. SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect October 1, 2022. Enacted under Article II, § 17(c) of the Maryland Constitution, May 29, 2022.