public disclosure by redevelopers

public disclosure by redevelopers Sec. 407. Section 105 of the Housing Act of 1949 is amended by adding at the end thereof the following new subsection: “(e) No understanding with respect to, or contract for, the disposition of land within an urban renewal area shall be entered into by a local public agency unless the local public agency shall have first made public, in such form and manner as may be prescribed by the Administrator, (1) the name of the redeveloper, together with the names of its officers and principal members, shareholders and investors, and other interested parties, (2) the redeveloper’s estimate of the cost of any residential redevelopment and rehabilitation, and (3) the redevelopers estimate of rentals and sales prices of any proposed housing involved in such redevelopment and rehabilitation: Provided, That nothing in this subsection shall constitute a basis for contesting the conveyance of, or title to, such land.”.