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"Project" means the redevelopment activities undertaken in or for the benefit of <br />the Project Area pursuant to this Plan. <br />"Project Area" means the area included within the boundaries of the Rough and <br />Ready Island Redevelopment Project, as shown on the Boundary Map (Exhibit A) and described <br />in the Legal Description (Exhibit B). <br />"Real Property" means land, including land under water and waterfront property; <br />buildings, structures, fixtures and improvements on the land; property appurtenant to or used in <br />connection with the land; and every estate, interest, privilege, easement, franchise and right in <br />land, including but not limited to rights-of-way, terms of years and liens, charges or <br />encumbrances by way of judgment, mortgages or otherwise and the indebtedness secured by <br />such liens. <br />"Redevelopment Law" means the Community Redevelopment Law of the State of <br />California (California Health and Safety Code Section 33000 et seq.). <br />"State" means the State of California. <br />PART III. PROJECT AREA BOUNDARIES <br />The Project Area consists of all properties within the boundaries shown on the Boundary <br />Maps (Exhibit A) and described in the Legal Description (Exhibit B). <br />PART IV. REDEVELOPMENT GOALS AND OBJECTIVES <br />A. OVERVIEW OF GOALS AND OBJECTIVES <br />The purpose of redevelopment is to eliminate serious physical and economic burdens in <br />the community which cannot reasonably be expected to be reversed or alleviated by private <br />enterprise or government action, or both, without redevelopment. The Project Area exhibits a <br />number of these conditions, including the following: <br />Unsafe and unhealthy buildings (Health and Safety Code Section 33492.11(a)(1)). <br />Factors that prevent or substantially hinder the economically viable reuse or capacity <br />of buildings or areas such as substandard design, lack of adequate parking, buildings <br />that are too large or too small given present standards and market conditions, age, <br />obsolescence, deterioration, dilapidation, or other physical conditions that could <br />prevent the highest and best uses of the property (Health and Safety Code Section <br />33492.11(a)(2)). <br />Buildings on land that, when subdivided, or when infrastructure is installed, will not <br />comply with community subdivision, zoning, or planning regulations (Health and <br />Safety Code Section 33492.11(a)(4)). <br />201\45\166562.4 3