Guam § 5112 - Disposal of Property for Uses in Accordance With Plan.

§ 5112. Disposal of Property for Uses in Accordance With Plan.

Subject to such requirements and procedures as the Federal

Government may impose with respect to federally aided urban renewal

projects, which shall in any event prevail:

(a) The Authority may sell, lease or otherwise transfer real

property or any interest therein acquired by it, and may enter into

contracts with respect thereto, in an urban renewal area for

residential, recreational, commercial, industrial or other uses or for

public use, or may retain such property or interest for public use, in

accordance with the urban renewal plan, subject to such covenants,

conditions and restrictions, including covenants running with the

land, as it may deem to be in the public interest or necessary to

assist in preventing the development or spread of future slums or

blighted areas or to otherwise carry out the purposes of this Article;

provided, that such sale, lease, other transfer or retention, and any

agreement relating thereto, may be made only after the approval of

the urban renewal project.

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(b) 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 interest or the Federal Government may determine to

be necessary as a condition of federal aid, including the obligations

to begin and to complete within a 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 improvements shall not apply to

mortgagees 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 renewal plan.

(1) 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 obligations assumed 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

objectives of such plan for the prevention of the recurrence of

slum or blighted areas.

(2) 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 advisory in nature only

for the purpose of aiding and assisting the Authority in finding,

determining and establishing the fair value of such real

property for uses in accordance with the urban renewal plan.

(d) (1) 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 otherwise transfer

the real property without the prior written consent of the

Authority until he has completed the construction of any and

all improvements which he has obligated himself to construct

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thereon; and the Authority may 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 condition, covenant, restriction, undertaking or other

requirement 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 retesting or reversion.

(2) The Authority, upon a certification by it to a court of

competent jurisdiction that any purchaser or lessee or their

successors and assigns has breached or violated any condition,

covenant, restriction, undertaking or requirement, shall be

entitled to immediate relief (without bond or liability for

damages) restraining and enjoining any such breach or

violation, pending the determination of the issues in the contro-

versy.

(e) The inclusion in any such contract or conveyance to a

purchaser or lessee of any of the covenants, restrictions or condi-

tions provided in Subsections (a), (b), (c) and (d), including the

incorporation by reference therein of the provisions of an urban

renewal plan or any part thereof, shall not prevent the filing of such

contract or conveyance in the Department of Land Management in

such a manner as to afford actual or constructive notice thereof.

(f) Real property acquired by the Authority which, in accor-

dance with the provisions of the urban renewal plan, is to be

transferred, shall be transferred as rapidly as feasible in the public

interest consistent with the carrying out of the provisions of the

urban renewal plan.

(g) (1) The Authority may dispose of real property in an urban

renewal area to private persons only under such reasonable

competitive bidding procedures as it shall prescribe, or as

hereinafter provided in this Subsection, or under such

procedures as the Federal Government may prescribe.

(2) The Authority may, by public notice by publication

once each week for two (2) consecutive weeks in a newspaper

having a general circulation in the community, prior to the

execution of any contract to sell, lease or otherwise transfer

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real property and prior to the delivery of any instrument of

conveyance with respect thereto under the provisions of this

Section, invite proposals from persons interested in

undertaking to redevelop or rehabilitate an urban renewal area,

or any part thereof. Such notice shall identify the area, or

portion thereof, and shall state that proposals shall be made by

those interested within thirty (30) days after the date of

publication of said notice, and that such further information as

is available may be obtained at such office as shall be

designated in said notice.

(3) The Authority shall consider all such rehabilitation

proposals and the financial and legal ability of the persons

making such proposals to carry them out, and may negotiate

with any persons for the purchase, lease or other transfer of any

real property acquired by the Authority in the urban renewal

area.

(4) The Authority may accept such proposal as it deems to

be in the public interest and in furtherance of the purposes of

this Article; provided, that a notification of intention to accept

such proposal shall be filed with the Governor not less than

thirty (30) days prior to any such acceptance.

(5) Thereafter, the Authority may execute such contract in

accordance with the provisions of Subsections (a), (b), (c) and

(d) and deliver deeds, leases and other instruments and take all

steps necessary to effectuate such contract.

(h) The Authority may temporarily operate and maintain real

property acquired in an urban renewal area pending the disposition

of the property as authorized, without regard to the provisions of

Subsections (a), (b), (c), (d), (e) and (f) above, for such uses and

purposes as may be deemed desirable even though not in conformity

with the urban renewal plan.