A. No Urban Renewal Authority created by this article shall exercise the authority or powers granted by this article until after the municipal governing body shall have determined by resolution that such action is in the public interest and elects to have the authority or powers exercised by the Urban Renewal Authority if one exists or is subsequently established.
B. No municipality shall exercise the authority granted by this article until after the municipal governing body shall have adopted a resolution finding that:
1. One or more blighted areas exist in its area of operation; and
2. The rehabilitation, conservation or redevelopment, or a combination thereof, of the area or areas is necessary in the interest of the public health, safety, morals and welfare of the residents of the area.
Added by Laws 1977, c. 256, § 38-105, eff. July 1, 1978. Amended by Laws 1994, c. 206, § 2, emerg. eff. May 20, 1994; Laws 2004, c. 42, § 1, eff. Nov. 1, 2004.
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