It is hereby determined and declared that the purpose of this ordinance is to provide a means of financing the cost of residential ownership and development that will provide decent, safe and sanitary housing for residents of the municipality at prices they can afford; it is further determined and declared that such residential ownership and development will (a) provide for and promote the public health, safety, morals, and welfare; (b) relieve conditions of unemployment and encourage the increase of industry and commercial activity and economic development so as to reduce the evils attendant upon unemployment; (c) provide for efficient and well-planned urban growth and development including the elimination and prevention of potential urban blight and the proper coordination of industrial facilities with public services, mass transportation and residential development; (d) assist low- and moderate-income persons in acquiring and owning decent, safe and sanitary housing which they can afford; (e) promote the integration of families of varying economic means; and (f) preserve and increase the municipality's ad valorem tax base; and the foregoing are hereby determined and declared to be public purposes and functions pertaining to the government and affairs of the municipality.
(Prior code § 7-86)