(a) The health, safety, and welfare of the people of the city are dependent upon the attraction of new private enterprise as well as the expansion and redevelopment of existing private enterprise;

(b) Incentives are often necessary in order to attract new private enterprise and to encourage existing private enterprises to redevelop or expand;

(c) Providing incentives will stimulate economic development in the city and will result in the creation and maintenance of new jobs, services, and products; and

(d) The public purpose to be served by providing incentives to attract new private enterprise and to expand or redevelop existing private enterprise outweighs any individual interests incidentally served thereby. (Ord. No. 2002-08, § 1, 2-25-2002)