AN ACT RELATIVE TO THE POWERS OF THE MALDEN REDEVELOPMENT AUTHORITY.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. Notwithstanding the provisions of any general or special law to the contrary, the redevelopment authority of the city of Malden shall, in addition to the powers granted to it under the provisions of chapter 121B of the General Laws, have the following powers:-
(a) at the request of the mayor of said city of Malden, the power to prepare and modify plans, designs, drawings, specifications and estimates of costs for the construction, development, redevelopment, rehabilitation, remodeling, alteration or repair of property in said city;
(b) the power to purchase, lease, acquire by gift, bequest, or grant, and hold any property located in said city of Malden, whether or not such property is located within an urban renewal area, and to improve, sell, convey, exchange, transfer, mortgage, lease, assign, or otherwise dispose of or deal with the same;
(c) the power to make mortgage loans on property in said city of Malden to facilitate the redevelopment or rehabilitation thereof and to deal with such loans and property in such manner as may be necessary to protect the interests of the Malden redevelopment authority in the property, including without limitation the power to sell such loans, to foreclose the same when in default, to bid for and purchase property at any foreclosure or other sale, and to take title to the property by deed in lieu of foreclosure;
(d) the power, in connection with the Malden redevelopment authority's authorized activities on behalf of or with respect to the NSC, to purchase, lease, acquire by gift, bequest, or grant, and hold property, located outside of the city of Malden, but in a municipality at the time a member of the North Suburban Consortium, hereinafter referred to as NSC, current members of which include the cities of Arlington, Chelsea, Everett, Melrose, Medford, Malden, and Revere, whether or not such property is located within an urban renewal area, if such property is to be used primarily for residential purposes, and to improve, sell, convey, exchange, transfer, mortgage, lease, assign, or otherwise dispose of such property, and the power to make mortgage loans on such property to facilitate its redevelopment or rehabilitation and to deal with such property in such manner as may be necessary to protect the interests of the redevelopment authority of said city of Malden in the property, including without limitation the power to sell such loans, to foreclose a mortgage on such property when in default, bid for and purchase property at any foreclosure or other sale, and to take title to the property by deed in lieu of foreclosure;
(e) the power to deal with property subject to a mortgage held by NSC securing a loan made as part of the HOME Investment Affordable Program in such manner as may be necessary to protect the interests of the NSC therein, including without limitation the power to sell such loan, foreclose such mortgage, to bid for and purchase property at any foreclosure or other sale, and to take title to the property by deed in lieu of foreclosure;
(f) following a vote in each case by the city council of said city of Malden, the power to act as an agent for said city in connection with exercise by said city of its eminent domain powers; and
(g) the power to enter into, execute and carry out contracts with any city or town for the purpose of providing services in connection with the creation and administration of rehabilitation loan programs, including lead paint abatement loan and grant programs.
SECTION 2. This act shall take effect upon its passage.