(A) The village may at any time, and from time to time, by ordinance duly enacted and in accordance with the authority vested in it by state law:
(1) Acquire by purchase, condemnation or otherwise, any buildings or structures which do not conform to the standards fixed by the village pursuant to state law, and all land which is necessary or appropriate for the rehabilitation or redevelopment of any area blighted by substandard buildings or structures;
(2) Remove or demolish all such nonconforming buildings or structures acquired;
(3) Hold and use any remaining property for public purposes; and
(4) Sell, lease or exchange such property as is not required for public purposes, subject to the provisions of this chapter or of any amendment hereto.
(B) No such acquisition by condemnation shall be made until such time as the Planning and Zoning Commission, at the request of the Board of Commissioners or upon its own initiative, shall have made a study of the area within which such nonconforming building or structure is located, and shall have filed a written report on such study with the Board of Commissioners.
(Ord. 2015-08, § 4.09, passed 6-23-2015)