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(e) In order to promote and protect the health, safety, morals and welfare of the public it is I' <br /> necessary to provide for the eradication and elimination of blight or conservation areas and the �, <br /> construction of redevelopment projects and commercial projects in these areas. !, <br /> (fl The eradication and elimination of blight or conservation areas and the construction of � <br /> redevelopment projects financed by private capital, with financial assistance from the City of Decatur I <br /> � <br /> and other governmental bodies, in the manner provided in this Chapter, is hereby declared to be a <br /> I <br /> public use essential to the public interest. I <br /> 2. DEFIriITIONS. As used in this Chapter, unless the context requires otherwise: <br /> (a) "Real property" means lands, lands under water, structures, and any and all easements, <br /> franchises and incorporeal hereditaments, estates and rights, .legal and equitable, including terms for <br /> yeazs and liens by way of judgment, mortgage or otherwise. <br /> (b) "Blight area" means any improved or vacant azea of not less in the aggregate than one (1) <br /> acre located within the City of Decatur where, if improved, industrial, commercial and residential <br /> buildings or improvements, because of a combination of five (5) or more of the following blighting <br /> conditions: <br /> age; <br /> dilapidation; <br /> obsolescence; <br /> deterioration; <br /> illegal use of individual structures; <br /> presence of structures below minimum code standards; <br /> excessive vacancies; <br /> overcrowding of structures and community facilities; <br /> inadequate utilities; <br /> excessive land coverage; <br /> deleterious land use or layout; <br /> depreciation or lack of physical maintenance; <br /> lack of community planning; <br /> diversity of ownership of such land; or <br />