(1) Every authority has all the powers
necessary or convenient to carry out and effectuate the purposes and provisions of
this part 1, including, but not limited to, the following powers in addition to others
granted in this part 1:
(a) To sue and to be sued; to adopt and have a seal and to alter the same at
pleasure; to have perpetual succession; to make, and from time to time amend and
repeal, bylaws, orders, rules, and regulations to effectuate the provisions of this
part 1;
(b) To undertake urban renewal projects and to make and execute any and
all contracts and other instruments which it may deem necessary or convenient to
the exercise of its powers under this part 1, including, but not limited to, contracts
for advances, loans, grants, and contributions from the federal government or any
other source;
(c) To arrange for the furnishing or repair by any person or public body of
services, privileges, works, streets, roads, public utilities, or educational or other
facilities for or in connection with a project of the authority; to dedicate property
acquired or held by it for public works, improvements, facilities, utilities, and
purposes; and to agree, in connection with any of its contracts, to any conditions
that it deems reasonable and appropriate under this part 1, including, but not
limited to, conditions attached to federal financial assistance, and to include in any
contract made or let in connection with any project of the authority provisions to
fulfill such of said conditions as it may deem reasonable and appropriate;
(d) To arrange with the municipality or other public body to plan, replan,
zone, or rezone any part of the area of the municipality or of such other public body,
as the case may be, in connection with any project proposed or being undertaken by
the authority under this part 1;
(e) To enter, with the consent of the owner, upon any building or property in
order to make surveys or appraisals and to obtain an order for this purpose from a
court of competent jurisdiction in the event entry is denied or resisted; to acquire
any property by purchase, lease, option, gift, grant, bequest, devise, or otherwise to
acquire any interest in property by condemnation, including a fee simple absolute
title thereto, in the manner provided by the laws of this state for the exercise of the
power of eminent domain by any other public body (and property already devoted to
a public use may be acquired in a like manner except that no property belonging to
the federal government or to a public body may be acquired without its consent);
except that any acquisition of any interest in property by condemnation by an
authority must be approved as part of an urban renewal plan or substantial
modification thereof, as provided in section 31-25-107, by a majority vote of the
governing body of the municipality in which such property is located, and the
acquisition of property by condemnation by an authority shall also satisfy the
requirements of section 31-25-105.5; to hold, improve, clear, or prepare for
redevelopment any such property; to mortgage, pledge, hypothecate, or otherwise
encumber or dispose of its property; and to insure or provide for the insurance of
any property or operations of the authority against any risks or hazards; except that
no provision of any other law with respect to the planning or undertaking of
projects or the acquisition, clearance, or disposition of property by public bodies
shall restrict an authority exercising powers under this part 1 in the exercise of such
functions with respect to a project of such authority unless the general assembly
specifically so states;
(f) (I) To invest any of its funds not required for immediate disbursement in
property or in securities in which public bodies may legally invest funds subject to
their control pursuant to part 6 of article 75 of title 24, C.R.S., and to redeem such
bonds as it has issued at the redemption price established therein or to purchase
such bonds at less than redemption price, all such bonds so redeemed or purchased
to be canceled;
(II) To deposit any funds not required for immediate disbursement in any
depository authorized in section 24-75-603, C.R.S. For the purpose of making such
deposits, the authority may appoint, by written resolution, one or more persons to
act as custodians of the funds of the authority. Such persons shall give surety
bonds in such amounts and form and for such purposes as the authority requires.
(g) To borrow money and to apply for and accept advances, loans, grants,
and contributions from the federal government or other source for any of the
purposes of this part 1 and to give such security as may be required;
(h) To make such appropriations and expenditures of its funds and to set up,
establish, and maintain such general, separate, or special funds and bank accounts
or other accounts as it deems necessary to carry out the purposes of this part 1;
(i) To make or have made and to submit or resubmit to the governing body for
appropriate action the authority's proposed plans and modifications thereof
necessary to the carrying out of the purposes of this part 1, such plan shall include,
but not be limited to:
(I) Plans to assist the municipality in the latter's preparation of a workable
program for utilizing appropriate private and public resources to eliminate and
prevent the development or spread of slum and blighted areas, to encourage
needed urban rehabilitation, to provide for the redevelopment of slum and blighted
areas, or to undertake such activities or other feasible municipal activities as may
be suitably employed to achieve the objectives of such workable program, which
program may include, without limitation, provision for: The prevention of the spread
of blight into areas of the municipality which are free from blight through diligent
enforcement of housing, zoning, and occupancy controls and standards; the
rehabilitation or conservation of slum and blighted areas or portions thereof by
replanning, removing congestion, providing public improvements, and encouraging
rehabilitation and repair of deteriorated or deteriorating structures; and the
clearance and redevelopment of slum and blighted areas or portions thereof;
(II) Urban renewal plans;
(III) Preliminary plans outlining proposed urban renewal activities for
neighborhoods of the municipality to embrace two or more urban renewal areas;
(IV) Plans for the relocation of those individuals, families, and business
concerns situated in the urban renewal area which will be displaced by the urban
renewal project, which relocation plans, without limitation, may include appropriate
data setting forth a feasible method for the temporary relocation of such
individuals and families and showing that there will be provided, in the urban
renewal area or in other areas not generally less desirable in regard to public
utilities and public and commercial facilities and at rents or prices within the
financial means of the individuals and families so displaced, decent, safe, and
sanitary dwellings equal in number to the number of and available to such
individuals and families and reasonably accessible to their places of employment;
(V) Plans for undertaking a program of voluntary repair and rehabilitation of
buildings and improvements and for the enforcement of state and local laws, codes,
and regulations relating to the use of land and the use and occupancy of buildings
and improvements and to the repair, rehabilitation, demolition, or removal of
buildings and improvements;
(VI) Financing plans, maps, plats, appraisals, title searches, surveys, studies,
and other preliminary plans and work necessary or pertinent to any proposed plans
or modifications;
(j) To make reasonable relocation payments to or with respect to individuals,
families, and business concerns situated in an urban renewal area that will be
displaced as provided in subparagraph (IV) of paragraph (i) of this subsection (1) for
moving expenses and actual direct losses of property including, for business
concerns, goodwill and lost profits that are reasonably related to relocation of the
business, resulting from their displacement for which reimbursement or
compensation is not otherwise made, including the making of such payments
financed by the federal government;
(k) To develop, test, and report methods and techniques and to carry out
demonstrations and other activities for the prevention and the elimination of slum
and blighted areas within the municipality;
(l) To rent or to provide by any other means suitable quarters for the use of
the authority or to accept the use of such quarters as may be furnished by the
municipality or any other public body, and to equip such quarters with such
furniture, furnishings, equipment, records, and supplies as the authority may deem
necessary to enable it to exercise its powers under this part 1.