§ 40-58-02 — Findings and declarations of necessity

1. It is hereby found and declared that there exist in municipalities of the state slum and
blighted areas which constitute a serious and growing menace, injurious to the public
health, safety, morals, and welfare of the residents of the state; that the existence of
these areas contributes substantially and increasingly to the spread of disease and
crime, constitutes an economic and social liability, substantially impairs or arrests the
sound growth of municipalities, retards the provision of housing accommodations,
aggravates traffic problems, and substantially impairs or arrests the elimination of
traffic hazards and the improvement of traffic facilities; and that the prevention and
elimination of slums and blight is a matter of state policy and state concern in order
that the state and its municipalities do not continue to be endangered by areas which
are focal centers of disease, promote juvenile delinquency, and, while contributing little
to the tax income of the state and its municipalities, consume an excessive proportion
of its revenues because of the extra services required for police, fire, accident,
hospitalization, and other forms of public protection, services, and facilities. It is further
found and declared that certain slum or blighted areas, or portions thereof, may
require acquisition, clearance, and disposition subject to use restrictions, as provided
in this chapter, since the prevailing condition of decay may make impracticable the
reclamation of the area by conservation or rehabilitation; that other areas or portions
thereof may, through the means provided in this chapter, be susceptible of
conservation or rehabilitation in such a manner that the conditions and evils described
in this section may be eliminated, remedied, or prevented; and that to the extent
feasible salvable slum and blighted areas should be conserved and rehabilitated
through voluntary action and the regulatory process.
2. It is further found and declared that there exist in municipalities of the state conditions
of unemployment, underemployment, and joblessness detrimental to the economic
growth of the state economy; that it is appropriate to implement economic
development programs both desirable and necessary to eliminate the causes of
unemployment, underemployment, and joblessness for the benefit of the state
economy; and that tax increment financing is an economic development program
designed to facilitate projects that create economic growth and development.