(a) In accordance with Resolution 415, Community Reinvestment Area No. 7 is hereby established within the boundaries described on Exhibit “A” attached to Resolution 542 and incorporated herein.
(b) Council hereby finds that the area included within Community Reinvestment Area No. 7 is one in which housing facilities or commercial/industrial facilities are located and new facility construction and repair of existing facilities or structures is not presently occurring to its fullest potential. (Res. 542. Passed 6-27-94.)