A. No city or town shall exercise any of the powers conferred by this act unless the governing body of such city or town shall have adopted a resolution finding that all or a portion of the commercial, industrial or residential neighborhood seeking to be redeveloped contains blighted conditions and the conservation, development or redevelopment of such area is necessary to promote the general and economic welfare of such city or town. B. The powers conferred upon cities and towns under the provisions of this act shall be exercised only in commercial, industrial or residential neighborhoods of cities and towns, as determined by resolution adopted pursuant to Section 40-104 of this title.
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