(A) The area described as the Alvarado Development Area, is hereby determined and declared to be a blighted area, as that term is defined by the Urban Development Law of the state of New Mexico.
(B) The Urban Development Agency of the city, by this action, is hereby authorized to prepare, or cause to be prepared, detailed urban renewal plans for activities to be carried out or encouraged in the area herein designated in accordance with the Urban Development Law of the state of New Mexico. The Board of Commissioners of the Urban Development Agency is hereby authorized to utilize, for the purpose of preparing or causing the preparation of said urban renewal plans, funds in the amount of $35,000 from the “Urban Development Fund” as established by the alternate method of financing urban renewal projects. However, no urban development activities or urban renewal activities shall be carried out or conducted until such time as said urban renewal plan has been presented to and approved by the City Council, as provided by law.
(Res. 189-1977, approved 9-28-77)
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