The city finds that there exists a continuing need to strengthen and revitalize the economy and that it is in the best interests of the city to assemble or dispose of public property in a coordinated manner to foster the development of that property and to promote economic growth. It is declared to be a valid public purpose for a Land Reuse Authority created under this subchapter to acquire, assemble, dispose of and quiet title to property. It is further declared to be a valid public purpose for the Land Reuse Authority created under this subchapter to provide for the financing of the acquisition, assembly, disposition and quieting of title to property, and to exercise other powers granted under this subchapter. The city finds that the Land Reuse Authority and powers conferred by this subchapter constitute a necessary program and serve a necessary public purpose.
(Ord. passed 5-7-2019)