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2. [§318] PreDaration Of Buildina Sites <br /> <br /> The Agency is authorized to prepare, or cause <br />to be prepared, as building sites any real property in the <br />Project Area owned by the Agency. In connection therewith, <br />the Agency may cause, provide for or undertake the instal- <br />lation or construction of streets, utilities, parks, play- <br />grounds and other public improvements necessary to carry <br />out this Plan. The Agency is also authorized to construct <br />foundations, platforms and other structural forms necessary <br />for the provision or utilization of air rights sites for <br />buildings to be used for residential, commercial, public and <br />other uses provided in this Plan. <br /> <br /> Prior consent of the City Council is required <br />for the Agency to develop sites for commercial or industrial <br />use by providing streets, sidewalks, utilities or other <br />improvements which an owner or operator of the site would <br />otherwise be obliged to provide. <br /> <br /> I. [S319] Property DiSPOSitiOn and Development <br /> <br /> 1. [S320] Real Property DiSPoSitiOn and <br /> Development <br /> <br /> a. [§321] Gener~ <br /> <br /> For the purposes of this Plan, the <br />Agency is authorized to sell, lease, exchange, subdivide, <br />transfer, assign, pledge, encumber by mortgage or deed of <br />trust or otherwise dispose of any interest in real property. <br />To the extent permitted by law, the Agency is authorized to <br />dispose of real property by negotiated lease, sale or <br />transfer without public bidding. Property containing <br />buildings or structures rehabilitated by the Agency shall <br />be offered for resale within one (1) year after completion <br />of rehabilitation or an annual report concerning such prop- <br />erty shall be published by the Agency as required by law. <br /> <br /> Real property acquired by the Agency may <br />be conveyed by the Agency without charge to the City and, <br />where beneficial to the Project Area, without charge to any <br />public body. All real property acquired by the Agency in <br />the Project Area shall be sold or leased to public or pri- <br />vate persons or entities for development for the uses per- <br />mitted in this Plan. <br /> <br /> All purchasers or lessees of property <br />acquired from the Agency shall be made obligated to use the <br />property for the purposes designated in this Plan, to begin <br />and complete development of the property within a period of <br />time which the Agency fixes as reasonable and to comply with <br /> <br /> -9- <br /> <br /> <br />