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