(a) Economic development is formally recognized as a valid public purpose in connection with the City's exercise of its constitutional powers of eminent domain.
(b) The City is hereby authorized to exercise its constitutional power of eminent domain purely for the purpose of economic development within the City.
(c) This section is not intended to modify in any way the legal procedures required in order for the City to exercise its eminent domain powers. Any use of eminent domain for economic development purposes shall follow all customary statutory procedures required in connection with the exercise of such right.
(Ord. 00-4. Passed 4-11-00.)