There is hereby created a program for recycling residential Lots as described herein, the aforesaid program to be designated as the Home Building Program. The purpose of the Home Building Program shall be to recycle or place residential Lots or parcels of real property that have been foreclosed for delinquent ad valorem taxes or for other reasons and that have not been redeemed by their owners in accordance with state law, into a pool for use by the City or by the Homebuilding Entities for the construction or rehabilitation of single-family residential houses for qualified low- or moderate-income individuals, thereby helping to alleviate community blight, removing said property from the group of properties maintained by the City, enhancing the tax base for the Taxing Entities by fostering the construction and rehabilitation of single-family residential homes, and generally improving the health, safety, and welfare of the citizens of the City.