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When a municipality has complied with the provisions of the Redevelopment Law [3-60A-5 to 3-60A-14 to 3-60A-18 NMSA1978] concerning public hearing and designation of an area as a metropolitan redevelopment area, it may prepare a metropolitan redevelopment plan; however, prior to final consideration of the plan by the local governing body, the plan shall be the subject of at least one public hearing held by the mayor or his designee, or the municipal planning commission, at which time comments from the public as a whole can be gathered and considered by the municipality in its preparation of the final plan.
The local governing body shall hold a public hearing on a metropolitan redevelopment plan or substantial modification of an approved plan after public notice thereof by publication in a newspaper having a general circulation in the area of operation of the municipality. The notice shall describe the time, date place and purpose of the hearing, shall generally identify the area covered by the plan and shall outline the general scope of the of the metropolitan redevelopment project under consideration. Prior to the public hearing on this matter, notice of the public hearing shall be mailed by first class mail to the owners of real property in the metropolitan redevelopment . The mailing shall be to the owner's address as shown on the records of the county treasurer. If the notice by first class mail to the owner is returned undelivered the municipality shall attempt to discover the owner's most recent address and shall re-mail the notice by certified mail, return receipt requested, to the address.
Following the public hearing, the local governing body may approve a metropolitan redevelopment plan if it finds that;
A metropolitan redevelopment plan may be modified at any time; however, if the plan is modifed after the lease or sale by the municipality of real property in the project area, the modification shall be subject to any rights at law or in equity a lessee or purchaser , or his successors in interest, may be entitled to assert. Any proposed modification which will substantially change the plan as previously approved by the local governing body shall be subject to the requirements of this section, including the requirement of a public hearing, before it may be approved.