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III. [Section 300] OPPORTUNITIES FOR OWNER PARTICIPATION AND PREFERENCES TO BUSINESS OCCUPANTS TO RE- ENTER IN BUSINESS W~'~'HIN REBEVELOPED AREA A. [Section 301] Opportunities for Owner Participation Owners of real property within the Project Area shall be extended reasonable opportunities to participate in the redevelopment of property in the Project Area if such Owners agree to participate in the redevelopment in conformity with the Redevelopment Plan and these rules. B. [Section 302] Preferences for Persons En~aged in Business in the Project Area Business Occupants engaged in business in the Project Area shall be extended reasonable preferences to reenter in business within the redevcloped area if they otherwise meet the requirements prescribed by thc Redevelopment Plan and these rules. IV. [Section 400] METHODS OF PARTICIPATION, AND LIMITATIONS THEREON A. [Section 401] Methods of Participation Participation methods include remaining in substantially the same location either by retaining all or portions of the property, or by retaining all or portions of the property and purchasing adjacent property from the Agency or joining with another person or entity for the rehabilitation or development of the Owner's property and, if appropriate, other property. An Owner who participates in the same location may be required to rehabilitate or demolish all or part of his/her existing buildings, or the Agency may acquire the buildings only and then remove or demolish the buildings. Participation methods also include the Agency buying land and improvements at fair market value from Owners and offering other parcels for purchase and rehabilitation or development by such Owners, or offering an opportunity for such Owners to rehabilitate or develop property jointly with other persons or entities. B. [Section 402] Limitations on Participation Opportunities Participation opportunities shall necessarily be subject to and limited by factors such as the following: (1) The elimination and changing of some land uses; (2) The construction, realignment, abandonment, widening, opening and/or other alteration or elimination of public rights-of-way; (3) The removal, relocation, and/or installation of public utilities and public facilities; (4) The ability of potential Participants to finance the proposed acquisition, development or rehabilitation in accordance with the Redevelopment Plan; (5) The ability and experience of potential Participants to undertake and complete the proposed rehabilitation or development; (6) Any reduction in the total number of indMdual parcels in the Project Area; (7) The construction or expansion of public improvements and facilities, and the necessity to assemble areas for such; Page 2 89-16