Any area, including slum area, in which the structures, buildings, or improvements, by reason of: (1) Dilapidation, age, or obsolescence; (2) Inadequate provisions for ventilation, light, air, sanitation, or open spaces; (3) High density of population and overcrowding; (4) The existence of conditions which endanger life or property by fire and other causes; or (5) Any combination of such factors; are conducive to ill health, transmission of disease, infant mortality, juvenile delinquency, or crime, and which is detrimental to the public health, safety, morals, or welfare, is a blighted area. Source: SL 1978, ch 91 , § 2 (1).