2006 New York Code - Policy And Purposes Of Article.

 
    §   501.   Policy  and  purposes  of  article.  There  exist  in  many
  municipalities   within   this   state   residential,   non-residential,
  commercial,  industrial or vacant areas, and combinations thereof, which
  are slum or blighted, or which  are  becoming  slum  or  blighted  areas
  because   of  substandard,  insanitary,  deteriorated  or  deteriorating
  conditions, factors,  and  characteristics,  with  or  without  tangible
  physical  blight.  The existence of such areas constitutes a serious and
  growing menace, is injurious to the public safety,  health,  morals  and
  welfare,  contributes  increasingly  to  the  spread  of crime, juvenile
  delinquency and disease,  necessitates  excessive  and  disproportionate
  expenditures  of  public  funds  for  all  forms  of  public service and
  constitutes a negative influence on adjacent properties impairing  their
  economic  soundness  and  stability,  thereby  threatening the source of
  public revenues.
    In order to protect and promote the safety, health, morals and welfare
  of the people  of  the  state  and  to  promote  the  sound  growth  and
  development  of  our  municipalities,  it  is  necessary to correct such
  substandard,  insanitary,  blighted,   deteriorated   or   deteriorating
  conditions,  factors  and  characteristics by the clearance, replanning,
  reconstruction,   redevelopment,    rehabilitation,    restoration    or
  conservation  of  such  areas,  the  undertaking  of  public and private
  improvement  programs  related  thereto   and   the   encouragement   of
  participation in these programs by private enterprise.
    It  is  necessary  for  the  accomplishment  of such purposes to grant
  municipalities of this state the rights  and  powers  provided  in  this
  article.  The  use of such rights and powers to correct such conditions,
  factors and characteristics and to eliminate or prevent the  development
  and   spread   of   deterioration  and  blight  through  the  clearance,
  replanning, reconstruction, rehabilitation, conservation or  renewal  of
  such  areas,  for residential, commercial, industrial, community, public
  and other uses is a public use  and  public  purpose  essential  to  the
  public interest, and for which public funds may be expended.