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JAH:dft 1~'~8/94 (022/38) <br /> <br />available along with copies of the DDA for public inspection and <br />copying, and a public hearing has been held thereon; and <br /> <br /> WHEREAS, this Council has reviewed and considered the DDA, <br />the Report and the testimony received during said public hearing; <br /> <br /> NOW, THEREFORE, THE CITY COUNCIL DOES HEREBY FIND AND <br />RESOLVE AS FOLLOWS: <br /> <br /> 1. This Council finds that the Agency's performance of the <br />Agency's duties under the DDA, including specifically the <br />contribution of the Subsidy to the Project and the acquisition <br />and conveyance of the Acquisition Parcels to the Developer and <br />the construction of the Project on the Project Site by the <br />Developer, will assist in the elimination of blight from the <br />Project Area. This finding is based on the following facts and <br />circumstances: <br /> <br /> a. The assemblage of the parcels that will comprise <br /> the Project Site, some of which are of an irregular shape <br /> and inadequate size and in multiple ownership such that <br /> development has been hindered for many years, will achieve a <br /> result that could not be achieved by the private sector <br /> acting alone. <br /> <br /> b. The Project will result in the removal from the <br /> Project Site of structures more than seventy years old and <br /> of a substandard design given present standards and market <br /> conditions, which structures have proved to be nonproductive <br /> and a deteriorating influence on the values of other <br /> properties in the Project Area. <br /> <br /> <br />