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are located. The Agency is also authorized to acquire any other <br /> interest in real property less than a fee. <br /> <br /> The Agency shall not acquire real property on which an existing <br />building is to be continued on its present site and in its present <br />form and use without the consent of the owner, unless (1) such <br />building requires structural alteration, improvement, modernization, <br />or rehabilitation, or (2) the site or lot on which the building is <br />situated requires modification in size, shape, or use, or (3) it is <br />necessary to impose upon such property any of the standards, restric- <br />tions and controls of the Plan and the owner fails or refuses to <br />participate in the Plan by executing a participation agreement. <br /> <br /> 2. Acquisition of Personal Property <br /> <br /> Generally personal property shall not be acquired. However, <br />where necessary in the executioh of this Plan, the Agency is auth- <br />orized to acquire personal property in the Projec~ Area by any <br />lawful means except eminent domain. <br /> <br /> C. Participation by Owners and Tenants <br /> <br /> 1. Opportunities for Owners and Tenants <br /> <br /> The Agency shall extend preferences to persons who are owners <br />and tenants in the Project Area, to continue in or re-enter the <br />redeveloped area if they otherwise meet the requirements prescribed <br />in the Plan. <br /> <br /> Owners of real property in the Project Area shall, as feasible, <br />be given the opportunity to participate in redevelopment by retaining <br />all or a portion of their properties, by acquiring adjacent or other <br /> <br />-14- <br /> <br /> <br />