The Board of Commissioners finds and declares:
(A) There exists in the community blighted and deteriorated areas;
(B) There is need in the community for the exercise of powers, functions and duties conferred by KRS 99.330 to 99.590 et seq.; and
(C) The exercise of such powers, functions and duties would be more efficient and in the public interest to be exercised by the Board of Commissioners.
(1995 Code, § 15.24.010)