The Council of the City of Altoona finds and declares that:
A.
The social and economic vitality of the City of Altoona is adversely affected by vacant, abandoned, and tax-delinquent properties.
B.
These properties continuously impose significant costs on residents, taxpayers and neighborhoods throughout the City by lowering property values, decreasing tax revenues, increasing fire and police protection costs, and diminishing quality of life.
C.
There is an overriding public need to confront the problems caused by vacant, abandoned and tax delinquent properties by using all available and appropriate tools to return these problem properties to productive use, thereby revitalizing neighborhoods and strengthening the City's tax base.
D.
A land bank is a proven tool for local governments to systematically remove problem properties from an endless cycle of vacancy, abandonment and tax foreclosure, and return them to productive use.
E.
Extensive grassroots community planning, including the report of the City of Altoona Blight Task Force, has recommended the use of a land bank to support blight removal and strategic redevelopment in the City of Altoona.
G.
Designating the City of Altoona Redevelopment Authority to act as a land bank will confer the powers and duties of a land bank on the Redevelopment Authority and the benefits of a land bank on the City of Altoona without the need to establish a separate entity, thereby saving administrative costs and promoting governmental efficiency.