Sec. 10-71. Finding.

(a) The lack of sufficient multifamily rental housing opportunities, especially for low and moderate income persons and families, is a factor which contributes directly to urban blight, crime and the destabilization of the community at large. Therefore, it is essential to the well-being of the city that the city provide assistance to promote the development of multifamily rental housing in the city.

(b) The availability of the assistance authorized by this division will serve the legitimate public purposes and municipal affairs of the city, and the general plan of the city, by providing private enterprise with new methods of financing multifamily rental housing beneficial to the city and its residents and by ensuring that multifamily rental housing development within the city will reflect the community's needs and objectives.

(1) The full and gainful employment of residents of the city;

(2) The provision of decent, safe and sanitary housing opportunities to residents of the city;

(3) The encouragement of new industrial, commercial and business facilities;

(4) The growth of the city's tax base through increased property values and consumer purchasing;

(5) The reduction of the need for and costs of welfare and other remedial programs;

(6) The reduction of urban ills such as crime attributable in part to inadequate housing facilities;

(7) The stability and diversification of the city's economy; and

(8) The enhancement of the general economic prosperity and the health, safety and welfare of the residents of the city.

(d) The utilization of local resources in stimulating the resurgence of private investment in housing within the city is of peculiar and unique concern to the city.

(e) The health and welfare of the citizens of the city and the surrounding area is a matter of vital concern to the city and the promotion and protection of such health and welfare is the responsibility of the city. It is a necessary and essential public purpose and municipal affair for the city to be authorized to provide financing to health institutions within the city that provide essential health care services to residents of the city. At present, there is a need for additional health facilities in and around the city to meet properly the demand for health care in the city. The financing authorized by this division will serve the legitimate public purpose of aiding health institutions in building an adequate number of facilities, in containing or lowering costs to the public and in providing better and more efficient service than would otherwise prevail. Unless the city intervenes to provide such financing, the costs of health care may increase at an ever-accelerating pace because such health institutions cannot obtain financing at reasonable rates from private sources.

(f) The city can promote the public interest pursuant hereto without adversely affecting areas outside the city and without conflicting with efforts by the state to solve similar problems of statewide concern. Encouraging development of multifamily rental housing and health institutions pursuant to this division (1) promotes the public health, safety and welfare, and will improve the social, moral, economic and physical condition of the community; and (2) constitutes a municipal affair of the city, a valid exercise of the police powers of the city, and a public purpose in which the city has a peculiar and unique interest. (Ord. No. 1883 (NCS), § 1.)