§ 970-k. Clearance, improvements and site preparation. (a) A
municipality may demolish or move buildings, structures, or other
improvements from any real property acquired. The municipality may
develop as a building site any real property owned or acquired by it. In
connection with such development it may cause, provide or undertake or
make provision with other agencies for the installation, or construction
of streets, utilities, parks, playgrounds and other public improvements
necessary for carrying out the redevelopment plan.

(b) Any work of grading, clearing, demolition, or construction or
installation of public improvements shall be done by contract subject to
provisions of state and local law applicable to the letting of public
works contracts. Where the work does not require competitive bids the
agency may give priority for such work to the residents of such
redevelopment project areas and to persons displaced from such areas as
a result of redevelopment activities. To the greatest extent feasible,
contracts for work to be performed in connection with any redevelopment
project shall be awarded to business concerns which are located in, or
owned in the substantial part, by persons residing in the project area.
To the greatest extent feasible, opportunities for training and
employment arising from any contract for work to be performed in
connection with any redevelopment project shall be given to low-income
persons who are residents of the project area. The municipality shall
require each successful bidder to file with it good and sufficient
bonds, to be approved by it. The bonds shall be conditioned upon the
faithful performance of the contract and upon the payment of all claims
for labor and material in connection with the contract.