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~- <br />• <br />(2) the existence o'f improvements or conditions that lower the <br />value of the land below that of nearby land; or <br />(3) other similar conditions; <br />(d) the public health and welfare will be benefited by accomplishment <br />of the Housing Program; <br />(e) the accomplishment of the Housing Program will be of public <br />utility and benefit as measured by: <br />(1) the provision of adequate housing for low and moderate <br />income persons; <br />(2) an increase in the property tax base; or <br />(3) other similar public benefits; <br />(f) at least one-third (1/3) of the parcels in Allocation Area No. 2 are <br />~~acant; <br />(g) at least seventy-five percent (75%) of Allocation Ares No_ 2 is <br />used for residential purposes or is planned to be used For <br />residential purposes; <br />• <br />(h) at least one-third (li3) of the residential units in Allocation Area <br />No. 2 were constructed before 1941; <br />(i) at least one-third (1/3) of the parcels in Allocation Area No. 2 have <br />at least one (1) o f the following characteristics: <br />(1) the dwelling unit on the parcel is not permanently <br />occupied; <br />(2) the parcel is subject of a governmental order, issued under <br />a statute or an ordinance, requiring the correction of a <br />housing code violation or unsafe building condition; <br />(3) two (2) or more property tax payments on the parcel are <br />delinquent; or <br />(4) the parcel is owned by local, state, or federal government; <br />and <br />(j) the total area within the municipality that is included in Allocation <br />Area No. 2 established for the Housing Program does not exceed <br />one hundred fifty (150) acres. <br /> <br />BDDF301 4766100v2 - 4 - <br />