(a) It is hereby found and declared that there exist in the City certain deteriorated areas, blighted areas, deteriorating areas, undeveloped areas and areas inappropriately developed which constitute a serious and growing menace, injurious to the public health, safety, morals and welfare of the residents of the City, and that the existence of such areas contributes substantially and increasingly to the spread of disease and crime, constitutes an economic and social liability, retards economic growth and development and prevents the creation or preservation of jobs and employment opportunities and the improvement of the economic welfare of the people, otherwise substantially impairs or arrests the sound growth of the City, retards the provision of housing accommodations, aggravates traffic problems and substantially impairs or arrests the elimination of traffic hazards and the improvement of traffic facilities; and that the prevention and elimination of slums, blight, deteriorated areas, deteriorating areas, undeveloped areas or inappropriately developed areas is a matter of City policy and concern in order that the City shall not continue to be endangered by areas which are focal centers of disease, crime and juvenile delinquency and, while contributing little to the tax income of the City, consume an excessive proportion of its revenues because of extra services required for police, fire, accident, hospitalization and other forms of public protection, services and facilities.
(b) It is further found and declared that the aforementioned problems arise from inadequate public and private investment and reinvestment in housing and employment generating facilities as well as related public and social services, resulting in the growth and persistence of urban slums, blighted areas, deteriorated areas, deteriorating areas, undeveloped areas and inappropriately developed areas and the marked deterioration of the quality of the urban environment. It is further found and declared that the future well being of the City and of its citizens depends on the elimination of blight and deterioration and the renewal of older areas, the improvement of the living environment of the City's residents and the development of new centers of economic activity. The primary objective of this chapter is thus the development of the City by providing decent housing, a suitable living environment and expanding economic opportunities for its residents.
(c) It is further found and declared that certain blighted areas, deteriorated areas, deteriorating areas and inappropriately developed areas or portions thereof may require acquisition, clearance and disposition subject to use restrictions as provided in this chapter, since the prevailing condition of decay may make impracticable the reclamation of the area by conservation and rehabilitation; that other areas or portions thereof may be susceptible of conservation or rehabilitation in such a manner that the conditions and evils hereinbefore enumerated may be eliminated, remedied or prevented; and that to the extent feasible salvable deteriorated areas, blighted areas, deteriorating areas or inappropriately developed areas should be conserved and rehabilitated through voluntary action, private enterprise and the regulatory process.
(d) It is further found and declared that the powers conferred by this chapter are for public use and purposes for which public money may be expended and the power of eminent domain exercised; and that the necessity in the public interest for the provisions herein enacted is hereby declared as a matter of legislative determination.