Section A1-104. Initiation of Project

In order to initiate an urban renewal project, the legislative body of the municipality shall adopt a resolution which:

(a) finds that one or more slumor blighted areas exist in such municipality;

(b) locates and defines the said slum or blighted areas; and

(c) finds that the rehabilitation, redevelopment, or a combination thereof, of such area or areas, is necessary in the interest of the public health, safety,morals o rwelfare of the residents of such municipality.