It is hereby found and declared that there exists in the Village various and several structures, including yard areas immediately contiguous thereto, which are, or may become in the future, deteriorated or defective with respect to exterior maintenance, or further, that such condition, including but not limited to, structural deterioration, lack of maintenance and appearance of exterior of premises, existence of exterior fire hazards and unsanitary conditions, constitute an immediate threat to the health, safety, welfare and reasonable comfort of the residents and inhabitants of the Village. It is further found and declared that, by reason of lack of maintenance and progressive deterioration, the exterior appearance of certain properties have the effect of creating blighting conditions and initiating depressed neighborhood groupings, and that if the same are not curtailed and corrected, the conditions are likely to grow and spread and necessitate, in time, the expenditure of large amounts of public funds to correct and eliminate the same, and that by reason of timely regulations and restrictions as herein contained, the growth of such blight may be prevented and the immediate neighborhood and property values thereby maintained.