The council of the city of North Bend, Oregon, hereby finds and declares that blighted areas as defined in ORS 457.010 exist within the city of North Bend, Oregon, and that there is a need for an urban renewal agency to function in the city of North Bend for the purpose of removing, preventing or reducing blight or blighting factors or the causes of blight. For purposes of this declaration, blighted areas are deemed to be areas which by reason of deterioration, faulty planning, inadequate or improper facilities, deleterious land use or the existence of unsafe structures, or any combination of these factors, are detrimental to the safety, health or welfare of the city of North Bend. The term “blighted areas” is more particularly defined in ORS 457.010 and those definitions are incorporated herein by reference. The council specifically finds that these conditions have resulted in limitation of development and valuation and that an urban renewal agency’s actions can deal with the conditions of blight, promote industrial and commercial growth and generally improve economic values and tax revenues to the benefit of the city. The council further finds that the purposes of the urban renewal agency are in conformance with policies and objectives of the city of North Bend and its comprehensive plan. (Ord. 1819 § 1, 1994)