Pursuant to New York General Municipal Law Section 96-A to declare T.D.'s Rye Smoke Shop located at 53 Purchase Street to be a Historic Landmark worthy of preservation in its present form and character; and also declare that the financing of or redevelopment of the site on which T.D.'s Rye Smoke Shop is located is not in the best interests of the City as it will lead to the diminution of the charm and character of the corner of Purchase and Elm Streets.