Pursuant to the provisions of Chapter 168 of the Laws of 1966 of the State of New Jersey, N.J.S.A. 2A:42-74 et seq., and in order to implement the provisions thereof, including the provisions thereof respecting rent receivers, the Council hereby finds, and restates its findings previously made, that:
A.
Many citizens of the City are required to reside in multiple dwelling units which fail to meet minimum standards of safety and sanitation and are compelled to pay rents disproportionate to the value of the facilities and services received.
B.
It is essential to the health, safety and general welfare of the people of the City that owners of substandard multiple dwelling units be encouraged to provide safe and sanitary housing accommodations for the public to whom such accommodations are offered.
C.
It is necessary, in order to ensure the improvement of substandard multiple dwelling units, to authorize methods to impose rent controls on substandard multiple dwelling units until such dwelling units satisfy minimum standards of safety and sanitation.