The Suffolk Downs Overlay District ("SDOD") is herein established as an overlay district. The purpose of the SDOD is to encourage the orderly and comprehensive redevelopment of land that includes the former Suffolk Downs thoroughbred racetrack facility, through the creation of a high-quality mixed use neighborhood that will include an appropriate mix of uses, including office, lab space, retail, hotel, residential, and other uses, that will be attractive to large-scale employers of growing industries, and that will advance the goals of promoting the common good, improving the quality of life of all residents of Revere, enhancing and expanding job creation, open space, housing development, and transportation, securing public safety from fire, flood, and other natural catastrophes, providing sufficient light and air, making adequate provision for transportation, water, water supply, drainage, sewerage, parks, open space, and preservation of natural resources, preserving or increasing public amenities, and providing adequate net tax revenue to offset any effects posed by large-scale development.