General Approach re Initiating Acquisition Proceedings; Compliance with Government Code 7267, et seq Sample Clauses

General Approach re Initiating Acquisition Proceedings; Compliance with Government Code 7267, et seq. After the Parties complete preparation of the Avon/Dakota Neighborhood Revitalization Plan pursuant to Article 2 above, the Parties agree to undertake a coordinated strategy for implementation of such Plan subject to compliance with applicable laws and regulations, including the California Community Redevelopment Law, Health & Safety Code Section 33000, et seq., the California Housing Authorities Law, Health & Safety Code Section 34200, et seq. The Parties contemplate acquisition and rehabilitation of Properties in the Avon/Dakota Neighborhood and that possession of and title to each and all Properties acquired for the Project shall occur only through negotiated acquisition proceedings and voluntary sales transactions between the applicable owner(s) and Developer and/or owner(s) and Authority for each and any Phase of the Project. Upon acquisition by Developer, as applicable, title to each Property will at the earliest reasonable opportunity be vested in Authority subject to compliance with applicable laws and regulations, including the California Community Redevelopment Law, Health & Safety Code Section 33000, et seq., the California Housing Authorities Law, Health & Safety Code Section 34200, et seq. Subsequently, at the Close of Escrow for an applicable Phase, the land of each Property acquired for that Phase will be ground leased to Developer for a term of not less than fifty- seven (57) years and any and all Improvements to such land will be sold in fee by Authority to Developer. After acquisition and pending each Close of Escrow for an applicable Phase, Authority will engage the services of Developer or one or more of its constituents or their related entities to manage each and all Properties acquired by Authority (or Developer).
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