789 RES REQUESTING RESERVATION OF CAPITAL GRANT FUNDS

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, I r • • ~J $ THERErGRE, BE I T RESOLVED BY THE CITY COUiJCI L 0~ THE CITY 0F PARIS, TEXAS• I hereby approved. Section 1. That the proposed Urban :enedval Area described above is a slum, blighted~ deteriorated or deteriorating area appropriate for an urban renewal project and that the undertaking by the City of Paris of surveys and plans for an urban renewal project of the character con- templated by Section 110(c) of the Housing Act of 1949, as amended and supplemented in the propcsed Urban Renewal Area described aboveg is Section 2. That the financial assistance provided under said Title I to assist urban renewal projects is needed and that the Housing and Home 1~inance Administrator is hereby requested to res2rve ror an urban re- nevral project in the proposed Urban Renewal Area described above :ederal capital grant funds in an amount sufficient to enable the City oi Paris to finance the undertaking of the Project. Section 3. That it is cocnizant of the conditions that are imposed in the undertalcing and carrying out of urban renewal projects vrith Federal financial assistance under Title I, including the requirements of said Title I respecting the workable program mentionEd aboveg and that it is the sense of this bodv (a) that a feasible method of the relocation ol-' families displaced from the urban renewal area, in conformity with said Title I. can be prepared, and (b) that lccal grants-in-aid, consisting of donations of cash, land, demoiition or removal work, and the installa- tiong construction or reconstructicn of streets, utilities, parks, play- grounds or other improvements or the provision of othor puhlic buildings OI` i aciiiti2S , Cl^CE'SSar'y rcr Ca'iY'1r1C'i~ OUi. iR 1:1:- 'i ~:l:;lial A-_-G"i LiI^:1:a:l 1'?2'v"Jal C.~ . , C-' 1iIZ :~CG:Dr .~u11C,_- w,.:.tIZ the UI''_a17 , ronc r,, cai-: ;.::I ~:ili 'o_ In a:~ouni: „lhich tifirill n~i less than on~-third olo the net project- cost anJ 1,,ihich, together with the redeaal. canital yrant, Gvill be c;cn--rally ec?ual to the difTerenCe b°tween gross project costs and the prcceeds or value of proJect land sold, leased cr retained for use in accordance vrith the urban renetival p1an. Section 4. Th_it t;-te filing of an anplication by the City of Paris for an Advance of -:L~unds frorz the United States of America in an amount not tc excaed y 69,837.00 for surveys and plans for an urban re- nevial project in the urban renewal area descriped above is hereby approved, and that the City r;':anaoer is hereby authorizen and directed to execute and iile such Application with the Housing and Home -Finance Administratcr, and to provide such additional iniormation and to furnish such docunents as may be reauired by said Ad;ninistrator, and to act as the authorized representative ofF the City oi Paris. rassed and adopted thisl4th day of Aprill 1958. ~"IL~S~.✓~ P.taycr ATTT'ST: ~ / , City Clerk. ~