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new construction, households within the Project Area lack affordable housing options. Forty- five percent of households in the Project Area census tract are below the poverty level, and their median income is only $]5,574 per year. Forty-five percent of home-owning households and fifty-three percent of renters pay over thirty percent of their income for housing. It is in the public interest to acquire portions of, and to otherwise facilitate the redevelopment of, the Project Area in order to remove the blight or reduce blighting influences, eliminate conditions preventing the development of land, and provide a sound and wholesome plan for redevelopment to achieve the objectives of this Plan. 2. Reasons for Selection of the Proiect The Project is appropriate for redevelopment because of the necessity to remove, prevent and reduce existing blight, blighting factors and the cause of blight and because of the necessity to eliminate the conditions which prevent development of land within the Project Area. 3. Relationship to Definite Local Obiectives This Plan is in conformity with the local objectives as set forth in this Plan. 4. Designation of Developing Entities This Plan indicates the real property to be made available for redevelopment by public and private enterprise. (See, especially, the Exhibits to this Plan.) 5. Relationship to Proposed Land Uses This Plan indicates the proposed land uses and building requirements in the Project. 6. Use and Other Measures To Eliminate and Prevent Blight This Plan provides for the realization of local objectives, with respect to health, safety, morals and welfare of the citizens of the City, including: a. Existing Conditions The existing conditions are described in Sections A and E.I of the Plan. 10