(1) Demolition. A privately owned building may be demolished if:

1. (a) it is vacant, abandoned, uninhabitable, taken by the city or town for taxes, and not economically feasible to rehabilitate; and
2. (b) demolition is in accordance with an approved Neighborhood Revitalization Plan for the area in which the demolition is undertaken.

(2) Neighborhood Revitalization Plans. The Chief Elected Official of any city or town may submit a Neighborhood Revitalization Plan to the Department for approval. If the Department finds the plan to satisfy the requirements herein, and to set out a sound plan for neighborhood revitalization, it shall approve the plan. Any such plan shall include, but not be limited to:

1. (a) a detailed description of the boundaries of the neighborhood subject to the plan;
2. (b) an evaluation (including, where applicable, maps, site plans and photographs) of the properties in need of rehabilitation or demolition, including, where appropriate, documentation of the need for demolition;
3. (c) housing goals;
4. (d) a plan of action for achieving the housing goals, including, where applicable, projected dates of development and milestones for specific Projects and for the neighborhood generally (e.g., request for proposals, site control, permitting, demolition, construction, and occupancy);
5. (e) a detailed presentation of all other funding sources to be used to implement the plan;
6. (f) demonstration of the plans consistency with other duly adopted local land use planning objectives;
7. (g) documentation that the plan was approved by the Chief Elected Official of the city or town, acting with proper authority and after a public hearing, and that the public will be able to participate in the plan’s implementation; and
8. (h) such other information as may be required in the HSF Guidelines.