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to prevent the economic deterioration of such areas to the point where the process can be • <br /> reversed only by total redevelopment. Through the use of the powers conferred on the EDA <br /> pursuant to the Enabling Act, promoting public service, economic, housing, industrial and <br /> commercial development may prevent the occurrence of conditions requiring redevelopment and <br /> prevent the emergence of factors contributing or giving rise to blight, marginal land, and <br /> substantial and persistent unemployment. <br /> Section 1.4. Statement of Objectives. The EDA seeks to achieve one or more of the <br /> following objectives with respect to such property within the Development Project as the EDA <br /> may determine and in such circumstances and upon such terms as the EDA may deem <br /> appropriate or necessary from time to time: <br /> (a) To promote and secure the prompt development of property within the <br /> Development Project, including necessary governmental and other public service <br /> facilities and public infrastructures and rights-of-way, in a manner consistent with <br /> existing and applicable land use plans. <br /> (b) To secure the prompt development of property in the Development Project <br /> in order to (i)realize return on presently existing public investment in public utilities, <br /> services, streets, and other infrastructures, (ii) prevent the emergence of or to help remedy <br /> blight or blighting factors and (iii) promote retention and expansion of the City's housing <br /> stock and other property tax base. <br /> (c) To assist such prompt development through the acquisition or write-down • <br /> of certain interests in property within the Development Project which is not now in <br /> productive use or in its highest and best use, to make or defray the cost of demolition, <br /> removal, remediation and/or soil corrections or other site improvements on said property, <br /> and to construct or reimburse for the construction of public improvements and other <br /> facilities on or for the benefit of said property, thereby promoting and securing the <br /> development of other land within the Development Project. Such acquisition may occur <br /> both through negotiation and the power of eminent domain, where deemed necessary to <br /> achieve the desired goals and specific implementation of the Development Program. <br /> (d) Through the implementation of this Development Program, to provide an <br /> impetus for residential and other development desirable or necessary to accommodate <br /> increased population within the City. <br /> (e) To promote and secure additional employment opportunities within the <br /> City, and the diversification thereof, and to prevent the loss of existing employment <br /> opportunities, thereby preventing the loss of valuable human resources. <br /> (f) To provide funding for an ongoing development strategy and to prioritize <br /> the use of available resources. <br /> (g) To implement and revise from time to time, as may be deemed necessary <br /> or desirable, a consolidated and unified Development Program and to finance the • <br /> associated development costs on a area-wide basis. <br /> 1382791v1 3 <br />