Section 114. Procedure for submission and approval of plan or project

Every plan or plan of a project  proposed  by  a  redevelopment  company
  shall  contain a general description of the area to be redeveloped and a
  statement of the plan of redevelopment with such detail  of  information
  with  reference  thereto  as may be necessary to a general understanding
  thereof. Where  changes  in  the  city  map  and  zoning  amendments  or
  variances  are  necessitated  by  such plan or project, such amendments,
  variances and changes shall be  submitted  together  with  the  plan  or
  project herein and considered as part thereof.
    After  preliminary  approval  thereof  by the supervising agency as to
  conformity with the provisions and purposes of this article, every  such
  plan  or plan of a project shall be submitted to the planning commission
  for approval of the plan or plan of the project relating to:
    1. Height and bulk of structures, density of population and percentage
  of land coverage by structures as to their conformity with the  purposes
  of  this  article and with the master plan, if any; and the relationship
  of the density of population contemplated by the plan  or  plan  of  the
  project  to  the  distribution  of the population of the municipality in
  other areas or parts thereof, and
    2.  Provision,  if  any,  for  business   or   commercial   facilities
  appurtenant to the plan or project, relationship to existing and planned
  public   facilities,   adequacy  and  planned  rearrangement  of  street
  facilities and provisions for  light,  air,  cultural  and  recreational
  facilities  as to their conformity with the purposes of this article and
  their  adequacy  for  accommodation  of  the   density   of   population
  contemplated by the plan or plan of the project.
    Where  a  project  consists  substantially of the rehabilitation of an
  existing structure or structures, and no changes in  the  city  map  and
  zoning  amendments  or  variances  are  necessitated by the project, the
  supervising agency may waive the preparation and submission of the  plan
  or plan of a project.
    Where a plan or plan of a project has been prepared and submitted, the
  planning  commission,  after  public  hearing,  notice of which shall be
  published at least ten days prior thereto in the official publication of
  the municipality, or if none exists, in a newspaper circulating  in  the
  municipality, on the plan or plan of a project, may:
    a. Issue an unqualified certificate of approval thereof, or
    b.  Issue  a certificate of conditional or qualified approval thereof,
  with or without recommendations, or
    c. Disapprove thereof.
    After action thereon by the planning commission, such plan or plan  of
  a  project with a proposed form of contract between the municipality and
  the redevelopment company or, when all stock,  debentures  and  mortgage
  bonds  of  the  company  are  owned  or  are  to be owned by one or more
  insurance companies, between the municipality, redevelopment company and
  such  insurance  company  or  companies  shall  be  submitted   by   the
  redevelopment company, with a certificate of approval of the supervising
  agency and the certificate or a statement of action, if any, on the plan
  or project by the planning commission, to the local legislative body for
  its  approval  of  the  project as to conformity with the provisions and
  purposes of this article, the extent of the tax exemption to be  granted
  pursuant  to  section  one hundred twenty-five, the amount and nature of
  the property to be  condemned  for  the  redevelopment  company  by  the
  municipality  and  the  terms  and conditions of payment therefor by the
  redevelopment company, the amount of publicly owned land  or  facilities
  to  be  sold to the redevelopment company or exchanged for redevelopment
  company-owned lands and the  availability  of  other  suitable  dwelling

  accommodations  for  families  living  in the area or part thereof to be
  affected by the plan or plan of the project.
    As  part of an approved project the local legislative body may require
  a redevelopment company to dedicate to the municipality  or  any  agency
  thereof  in the manner provided by law specified portions of the land in
  a project for parks,  streets,  public  recreational  and  other  public
  purposes.
    The  contract  shall regulate the rents to be charged for rooms in the
  project and may contain such other  provisions,  not  inconsistent  with
  this article, as may be deemed necessary or desirable for the financing,
  construction, operation and supervision of the project.
    In  any  case  where a plan or plan of a project has been prepared and
  submitted and the planning commission shall have issued a certificate of
  unqualified approval, or where preparation and submission of a  plan  or
  plan  of  a  project  has  been  waived  by  the  supervising  agency in
  accordance with the provisions of this section, approval of the  project
  by the local legislative body may be by resolution adopted by a majority
  of the whole number of votes authorized to be cast by all of the members
  thereof. In any case where a plan or plan of a project has been prepared
  and  submitted  and  the  planning  commission  shall  not have issued a
  certificate of unqualified approval, the plan or plan of a  project  may
  nevertheless  be  approved  by  the local legislative body, after public
  hearings thereon, by resolution adopted by a three-fourths vote  of  the
  whole  number  of  votes  authorized  to  be  cast by all of the members
  thereof. Notwithstanding any other provision of law, changes in the city
  map, zoning amendments, or variances contained  in  the  plan  shall  be
  deemed  approved by the local legislative body when it approves the plan
  or project. Any such changes in the  city  map,  zoning  amendments,  or
  variances  shall  become  effective on the date on which the supervising
  agency shall file a  resolution  with  the  local  legislative  body  in
  implementation  thereof.    The  local legislative body is authorized to
  enter into  the  necessary  contract  or  contracts  on  behalf  of  the
  municipality.
    If  the  contract  parties are a municipality, a redevelopment company
  and one or more insurance companies which own or will  own  all  of  the
  stock, debentures, bonds and mortgage indebtedness of such redevelopment
  company,  or  if the project is undertaken by an insurance company, then
  the certificate of the supervising agency approving such contract  shall
  terminate  the  functions  of  the  supervising  agency pursuant to this
  article, and after the execution of such contract all references  herein
  to  the  approval  or  other  action  by the supervising agency shall be
  inapplicable to the project provided for in such contract  and  to  such
  redevelopment company or the insurance company undertaking such project.