In any contract for financial assistance with the federal government the authority may obligate itself (which obligation shall be specifically enforceable and shall not constitute a mortgage, notwithstanding any other laws) to convey to the federal government possession of or title to the redevelopment project and land therein to which such contract relates which is owned by the authority, upon the occurrence of a substantial default (as defined in such contract) with respect to the covenants or conditions to which the authority is subject, such contract may further provide that in case of such conveyance, the federal government may complete, operate, manage, lease, convey or otherwise deal with the redevelopment project in accordance with the terms of such contract; provided, that the contract requires that, as soon as practicable after the federal government is satisfied that all defaults with respect to the redevelopment project have been cured and that the redevelopment project will thereafter be operated in accordance with the terms of the contract, the federal government shall reconvey to the authority the redevelopment project as then constituted.
Structure Delaware Code
Chapter 45. SLUM CLEARANCE AND REDEVELOPMENT AUTHORITY LAW
§ 4502. Declaration of necessity.
§ 4503. Creation of slum clearance and redevelopment authority.
§ 4505. Regional slum clearance and redevelopment authority.
§ 4506. Area of operation of regional authority.
§ 4507. Board of commissioners; number; tenure of office; vacancies.
§ 4508. Appointment of commissioners for each additional community; tenure.
§ 4509. Odd and even number of communities; tenure; certificate of appointment as evidence.
§ 4511. Power of authority; quorum; meetings; qualifications for appointment as commissioner.
§ 4512. Officers; employees; duties and compensation; legal services.
§ 4513. Removal; hearing; filing of proceedings in office of municipal or county clerk's office.
§ 4514. Actions or proceedings; proof of adoption of resolutions as evidence.
§ 4515. Interest in contracts; disclosure of interest; violations.
§ 4516. Powers of an authority.
§ 4517. Approval of redevelopment plans.
§ 4518. Finding of necessity by local governing body.
§ 4519. General plan prior to recommendation of redevelopment plan.
§ 4520. Preparation of redevelopment plan; contents.
§ 4521. Submission of plan for review and recommendations.
§ 4522. Considerations prior to recommendation of plan.
§ 4523. Statement of proposed costs; revenue, finances and relocation of displaced families.
§ 4524. Public hearing; notice; publication.
§ 4525. Approval of plan; required findings.
§ 4526. Modification of plan; notice; objections.
§ 4527. Disposal of property in redevelopment project.
§ 4529. Acquisition and development of undeveloped vacant land.
§ 4531. Powers in connection with issuance of bonds.
§ 4533. Bonds as legal investments.
§ 4534. Conveyance to federal government on default.
§ 4535. Property of authority exempt from taxes, from levy and sale by virtue of an execution.
§ 4536. Cooperation by public bodies.
§ 4537. Grant of funds by community.
§ 4538. Cooperation between authorities.
§ 4541. Preparation of general plan by local governing body.