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Current as of January 01, 2025 | Updated by Findlaw Staff
An agency shall obligate lessees or purchasers of property acquired in a redevelopment project to:
(a) Use the property for the purpose designated in the redevelopment plans.
(b) Begin the redevelopment of the project area within a period of time which the agency fixes as reasonable.
(c) Comply with the covenants, conditions, or restrictions that the agency deems necessary to prevent speculation or excess profittaking in undeveloped land, including right of reverter to the agency. Covenants, conditions, and restrictions imposed by an agency may provide for the reasonable protection of lenders.
(d) Comply with other conditions which the agency deems necessary to carry out the purposes of this part.
Cite this article: FindLaw.com - California Code, Health and Safety Code - HSC § 33437 - last updated January 01, 2025 | https://codes.findlaw.com/ca/health-and-safety-code/hsc-sect-33437/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
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