Eminent domain powers shall only be used for the purpose of
economic development and/or expanding the tax base when all the following
circumstances have been met:
A. The unemployment rate for Greenfield is in the highest 20% of municipalities
in the commonwealth.
B. The total equalized property value for Greenfield is in the lowest
20% of municipalities in the commonwealth.
C. The property in question has been vacant for a period over two consecutive
years.
D. The property in question has been deemed a substandard, decayed,
or blighted open area either under state law or by the provisions
of this chapter.