The city council finds and declares that, in connection with the development or redevelopment of property containing retail businesses that are expected to generate substantial new sales tax revenues or extraordinary public benefit for the City, the use of a portion of city sales tax revenues from such businesses and city use tax revenues from construction on such property to assist in financing improvements dedicated or used for public purposes and to attract such businesses to the City is a public purpose that promotes industry, trade and economic activity necessary to the fiscal viability of the city and the health, safety, and welfare of its residents, which public purpose outweighs any individual interests incidentally served thereby. (Code 1979, § 36-250; Ord. No. 2008-42, § 2, 9-8-2008; Ord. No. 2001-71, § 1, 12-3-2001; Ord. No. 97-05, § 1, 3-3-1997)