2012 AUGUST-MASHPEE EDIC Plan for Executive Park

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h' (o) clear and improve property acquired by it, and engage in or contract for construction, reconstruction, development,redevelopment,rehabilitation,remodeling, alteration or repair thereof; (p) arrange or contract with the town for the planning,replanning, opening, grading or closing of streets,roads, alleys or other places or for the famishing of facilities or for the acquisition by the town of property or property rights or for the furnishing of property or services in connection with a project or projects; (q) sell,convey, mortgage, lease, transfer, option, exchange or otherwise dispose of, any property,either real or personal, or any interest therein, as the objects and purposes of the corporation may require, subject to such limitations as may be prescribed by law; (r)loan on mortgages, including purchase money mortgages, on real estate and personal property within economic development areas,to foreclose the same when in default, and bid for and purchase property at any foreclosure or other sale; and in that event, deal with the property in a manner necessary or desirable to protect the interests of the corporation therein; (s)manage any plan, program or project whether owned or leased by the corporation and enter into agreements with the commonwealth or the town or.any agency or instrumentality thereof or with any person, firm,partnership or corporation either public or private for the purpose of causing any plan, program or project to be managed; (t) act with respect to 1 or more projects, as a corporation organized under section 3 or section 1 SB of chanter 121A of the General Laws;provided that the accounts for each project shall be kept separately, and the income of 1 project shall not be expended upon or for the benefit of another project; (u)borrow money for the purposes of aiding in the construction of equipment required by the commonwealth or United States to abate air or water-pollution; (v) apply to the federal government or to the commonwealth for economic development and urban renewal assistance grants to meet in part the cost of approved economic development projects,receive and administer the grants, contract with the commonwealth for financial assistance, apply for and receive advances for the estimated costs of surveys and plans and administrative expenses in preparation for economic development projects and apply for, receive and administer community development action grants, all to the same extent and subject to the same terms and conditions as an urban renewal agency pursuant to sections 53 to 57A, inclusive, of chapter 121B of the General Laws; (w) do all acts and things necessary or convenient to carry out the powers expressly granted in this act. The corporation shall pay the reasonable relocation costs of persons and businesses displaced as a result of carrying out economic development plans,but the corporation shall not be required hereby to pay or contribute to the payment of such costs of any relocation in excess of$40,000.