It is hereby found and determined that there may exist within the city blighted, deteriorating, deteriorated or underutilized areas of the nature defined in this chapter which constitute a serious and growing menace injurious and inimical to the public health, safety, morals and general welfare of the residents and occupants thereof; that the existence of such areas:
   (A)   Contributes substantially and increasingly to the spread of disease and crime, and to losses by fire and accident, necessitating excessive and disproportionate expenditures of public funds for the preservation of the public health and safety, for crime prevention, correction, prosecution and punishment, for the treatment of juvenile delinquency, for the maintenance of adequate police, fire and accident protection and for other public services and facilities;
   (B)   Constitutes an economic and social liability; or
   (C)   Substantially impairs and arrests the sound growth of the community; that this menace is beyond remedy and control solely by regulatory processes and exercise of the police power, and cannot be dealt with effectively by the ordinary operation of private enterprise without the aids herein provided; that the elimination by the city, in whole or in part, of blighted or underutilized and deteriorating areas by urban renewal as defined herein is necessary for the public welfare and is a public use and purpose for which public money may be expended and private property acquired.
(Ord. 31-1988, passed 11-2-88)