7-15-4202. Existence of blighted areas and resulting problems -- statement of policy. It is hereby found and declared:
(1) that blighted areas which constitute a serious and growing menace, injurious to the public health, safety, morals, and welfare of the residents of the state, exist in municipalities of the state;
(2) that the existence of such areas:
(a) contributes substantially and increasingly to the spread of disease and crime and depreciation of property values;
(b) constitutes an economic and social liability;
(c) substantially impairs or arrests the sound growth of municipalities;
(d) retards the provision of housing accommodations;
(e) aggravates traffic problems; and
(f) substantially impairs or arrests the elimination of traffic hazards and the improvement of traffic facilities; and
(3) that the prevention and elimination of such areas is a matter of state policy and state concern in order that the state and its municipalities shall not continue to be endangered by areas which are focal centers of disease, promote juvenile delinquency, are conducive to fires, are difficult to police and to provide police protection for, 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.