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1.3 Definitions <br />Cooperation Agreement: Any agreement between LRC and the City of Louisville or any <br />other public body regarding action taken pursuant to any of the powers set forth in the <br />Urban Renewal Law, or in any other provision of Colorado law, for the purpose of <br />facilitating public undertakings deemed necessary or appropriate by LRC under this Plan. <br />Plan: This Urban Renewal Plan as it may be modified from time to time. <br />Plan Area: The area described in Section 2.6 of this Plan, and depicted on Figure 1, which <br />has been found to be blighted by the Louisville City Council by Resolution No. 60, Series <br />2014 and for which the undertaking of urban renewal projects is declared to be necessary. <br />Redevelopment Agreement: An agreement between LRC and a developer or developers <br />regarding the re- tenanting, redevelopment rehabilitation of prope within the Plan <br />Area. <br />2. LEGISLATIVE FINDINGS <br />2.1 Qualifying Conditions <br />Based on the 550 South McCaslin Boulevard Conditions Survey prepared by Urban <br />Revitalization Consulting, dated July, 2014, and evidence presented at the public hearing, <br />the City Council on October 7, 2014 adopted its Resolution No. 60, Series 2014 finding <br />that there exists blight, as defined by § 31 -25- 103(2), C.R.S., in the Plan Area. <br />The 550 South McCaslin Boulevard Conditions Survey found blight conditions are <br />prevalent throughout the area. The conditions found to exist include: <br />a) Faulty lot layout in relation to size, adequacy, accessibility, or usefulness; <br />c c) <br />b) Deterioration of site or other improvements; <br />Defective or unusual conditions of title rendering the title nonmarketable; <br />The existence of health, safety, or welfare factors requiring high levels of <br />municipal services or substantial physical underutilization or vacancy of <br />sites, buildings, or other improvements. <br />By letters dated September 24, 2014, the property owner and tenants of such owner have <br />stated that they do not object to the inclusion of the Property in an urban renewal area or <br />adesignation of blight. <br />The City Council finds that the presence of these factors substantially impairs or arrests the <br />sound growth of the City of Louisville, constitutes an economic and social liability, and is <br />a menace to the public health, safety, morals and welfare of the City of Louisville. <br />2 <br />8 <br />