Any new residential structure, or any addition to or renovation of an existing structure, located within a redevelopment neighborhood, which new structure, addition, or renovation has a true and full value of $30,000 or more, added to real property shall qualify to be assessed pursuant to the discretionary formula described in § 32.59. In order to improve the quality of housing, all real property located within the city limits of Gregory, South Dakota, with the exception of all real property located in Grandview Addition to the City of Gregory, shall qualify as property located in a redevelopment neighborhood. The redevelopment neighborhood is being established because the area includes buildings or improvements which by reason of age, deterioration, obsolescence, and dilapidation injuriously affect the area to the detriment of public health, safety, morals or welfare and because the development of housing is being prevented by the predominance of defective or inadequate street layout, faulty lot layout in relation to size, adequacy, accessibility, or usefulness, the deterioration of site improvements, and obsolete platting.
(Ord. 2017-10, passed 12-19-2017)