§ 45-32-48. Authorized acquisition, relocation, and improvement expenses.
(a) Notwithstanding any provisions of chapters 31 — 33 of this title, any redevelopment
agency functioning pursuant to § 45-31-10 or 45-31-17, in connection with its undertaking or carrying out a redevelopment project or formulating
a redevelopment plan is authorized to:
(1) Acquire real property in any area designated a redevelopment area pursuant to the
provisions of § 45-32-4, demolish or remove the structures on the property, provide for relocation of occupants,
including the payment of sums for relocation expenses to the occupants of the pr
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§ 45-32-48. Authorized acquisition, relocation, and improvement expenses.
(a) Notwithstanding any provisions of chapters 31 — 33 of this title, any redevelopment
agency functioning pursuant to § 45-31-10 or 45-31-17, in connection with its undertaking or carrying out a redevelopment project or formulating
a redevelopment plan is authorized to:
(1) Acquire real property in any area designated a redevelopment area pursuant to the
provisions of § 45-32-4, demolish or remove the structures on the property, provide for relocation of occupants,
including the payment of sums for relocation expenses to the occupants of the property
that are permitted by the federal government (notwithstanding the limitation in amount
imposed by § 45-31-27), and to clear and improve the property, regardless of the stage of development of
the redevelopment project or plan or any modification of the plan for that area or
any portions of it, whether it is before or after the approval of the plan or its
modification by the legislative body, and
(2) Dispose of the property acquired under this section without regard to the provisions
of chapters 31 — 33 of this title, for the disposition of property in a project area.
(b) Any sale or lease of the property may be made without public bidding, provided that
no sale or lease is made until at least ten (10) days after the legislative body of
the community has received from the agency a report concerning the proposed sale or
lease and has approved the report by resolution. Any agency may enter into a contract
or contracts with private financial institutions and/or with the federal government
for the purpose of obtaining financial or technical assistance in connection with
the aforedescribed acquisition, demolition, clearance, relocation, and improvement,
and may borrow, at interest rates and on other terms and conditions that it may deem
proper, from those private financial institutions or the federal government, sums
necessary for the acquisition of the real property and related expenses, the management
of the real property, the relocation of the occupants of the real property, the demolition
of the buildings or structures and the clearance of and improvement of the land and
real property so acquired, and other related administrative costs and payments. Any
agency may, on terms and conditions that it may deem proper, mortgage or otherwise
encumber the property so acquired, or any other property owned by it for the purpose
or purposes of securing the repayment of any money borrowed to carry out the aforementioned
undertaking.