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<br />. <br /> <br />with the Agency in accordance with the provisions of the <br />applicable Redevelopment Plan and these rules. <br /> <br />3. TYPES OF PARTICIPATION <br /> <br />Participation may involve Owners, Business occupants, and <br />others. Participation includes remaining in substantially the same <br />location, either by retaining all or portions of the property, or <br />by retaining all or portions of the property, and purchasing <br />adjacent property from the Agency or joining with another person or <br />entity for the development of the owner's property and, if <br />appropriate, other property. An Owner who participates in the same <br />location may be required to rehabilitate or demolish all or part of <br />his/her existing buildings, or the Agency may acquire the buildings <br />only and then remove or demolish the buildings. Participation also <br />includes the Agency buying land and improvements at fair market <br />value from Owners and offering other parcels for purchase by such <br />Owners, or offering an opportunity for such Owners to develop <br />property jointly with other persons or entities. <br /> <br />4. PREFERENCES TO OWNERS AND BUSINESS OCCUPANTS WITHIN PROJECT <br />AREAS <br /> <br />. <br /> <br />(a) Participation is desired in the rehabilitation and <br />redevelopment of a Project Area by as many Owners and Business <br />Occupants located in that Project Area as practicable. The Agency <br />shall extend preferences to Owners and Business Occupants to <br />continue in or, if the Agency acquires the land of property Owner <br />or the land on which Business Occupant is located, to reenter the <br />same Project Area if any such Owner or Business Occupant meets the <br />requirements prescribed in the applicable Redevelopment Plan and in <br />these rules. <br /> <br />(b) Subject to these rules, Owners of real property in a <br />Project Area shall be extended a reasonable preference to <br />participate in redevelopment of their properties by rehabilitation, <br />by retention of improvements, by new development, by retaining all <br />or a portion of their properties, by acquiring adjacent properties <br />from the Agency, or by participating with developers in the <br />redevelopment of all or a portion of their properties or by other <br />suitable means; provided, however, that such development will be <br />consistent with and will not impair the objectives of the <br />applicable Redevelopment Plan as determined by the Agency and is <br />otherwise consistent with the guidelines provided by these rules. <br /> <br />(c) Subject to these rules, Owners within a Project Area who <br />desire to acquire new property within the Project Area shall be <br />extended a reasonable preference to acquire and develop substitute <br />properties within the same Project Area at such time as the Agency <br />is able to make available for private development for such purpose <br />properties within that Project Area; provided, however, that such <br />development will be consistent with and will not impair the <br /> <br />. <br /> <br />2 <br /> <br />Page 2 of 7 <br />