(A) The following definition of a “slum and blighted area” is adopted for purposes of designating areas, making applications for funds, and expenditure of funds for the improvement, preservation, conservation, or redevelopment of such areas as may be identified by resolution of Council describing the area and identifying the conditions which meet the standards in the definition.
(B) In accordance with state law, a SLUM and BLIGHTED AREA means any improved or vacant area within identified boundaries located within the territorial limits of the municipality, which meets state law and the following CDBG definition: A substantial number of deteriorated or deteriorating building are present or public improvements are in a general state of deterioration in the designated area. At least 33% of properties in the area must have one (1) or more of the following characteristics:
(1) Physical deterioration of buildings or improvements;
(2) Abandonment of properties;
(3) Chronic high turnover or vacancy rates in commercial/industrial buildings;
(4) Significant decline in property values or abnormally low property values in relation to other areas in the community; or
(5) Known or suspected environmental contamination.
(Ord. 08-20, passed 8-11-2008)