For any proposed redevelopment project that includes the division of taxes as provided in section 18-2147 and that is located in an area which has been declared substandard and blighted because less than twenty percent of the housing in the area is affordable housing, the governing body may approve such project if: (1) The project includes the construction of residential housing; and (2) The governing body finds that, upon completion of the project, at least thirty percent of the residential housing in such area will be affordable housing.
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