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WHEREAS, the City is a duly incorporated Home Rule City,
operating and existing under the Constitution and the laws of the
State of Texas and the duly adopted Home Rule Charter of the
City,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF GEORGETOWN, TEXAS, THAT:
Section 1. The Governing Body hereby finds, determines and
declares that the City in its entirety, the boundaries of ;which
are described in the map attached hereto as Exhibit A, shall be
declared to be an eligible blighted area ("EBA") because such
area, by reason of the presence of a substantial number of sub -
00 standard, slum, deteriorated, or deteriorating structures and
cD which suffers from a high relative rate of unemployment or a com-
bination of the foregoing, substantially impairs or arrests the
sound growth of the City, constitutes an economic or social lia-
bility and is a menace to the public health, safety or welfare in
Q its present condition and use. The Governing Body hereby further
Q finds that the City in its entirety should be eligible for commer-
cial uses within the EISA and that same will contribute signifi-
cantly to the alleviation of the blighted conditions found to
exist in the EBA, subject to the conditions, restrictions and cri-
teria hereinafter set forth.
Section 2. The overall objectives of the City for redevelop-
ment and recovery of the EBA are as follows:
A. To encourage and promote a policy to achieve the
goal and effort to balance an agricultural economy with in-
dustrial and commercial endeavors.
B. To encourage and promote the City's ability to com-
pete with other states and political subdivisions by provid-
ing an alternative for long-term financing at .a fixed cost of
money to offset other inflationary factors.
C. To encourage and promote incentives for continued
quality growth by providing new job opportunities to reduce
unemployment wherein individuals already residing here and
having completed their education will be able to pursue job
opportunites compatible with their education and skills.
D. To encourage the economic growth and stability of
the City by increasing and stabilizing employment opportuni-
ties, significantly increasing and stabilizing the property
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