HB 2852 - DIGEST

     Declares that it is the purpose of this act to provide financial resources for a limited time to assist local governments in the financing of public improvements which are needed to encourage private development of selected areas; to prevent or arrest the decay of selected areas due to the inability of existing financial methods to provide needed public improvements; and to encourage private investment designed to promote and facilitate the orderly redevelopment of selected areas.  It is the further purpose of this act to strengthen existing law to remedy problems arising from substandard and deteriorating buildings.