743 RES REQUESTING RESERVATION OF CAPITAL GRANT FUNDS

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0% es WHEREAS, the above-cited Federal law requires as a condition to the execution of a contract for a loan and capital grant for an urban renewal project that the locality present to the Housing and Home Finance Administrator a workable program, as set forth in Section 101(c) of said Title I, for utilizing appropriate public and private resources to eliminate and prevent the development or spread of, slums and urban blight, to encourage needed urban rehabilitation, to provide for the re- development of blighted, deteriorated, or slum areas or to undertake such other feasible corrmunity activities as may be suitably employed to achieve the objectives of such a program; and, WHEREAS9 it is recognized that contracts for loans and capital grants for urban renewal projects will requirep among other things, (1) the approval of the urban renewal plan by the governing body of the locality in which the project is situated; (2) the provision of local grants-in-aid which may consist of donations of cashp landv demolitiiDn or removal work, and the installation, construction or reconstructioin of streets, utilities, parksp playgrounds or other improvements or t;he provision of other public buildings or facilities; and (3) the develop- ment of a feasible method for the relocation of families displaced f:rom the urban renewal area. NOW, THEREFOREs BE IT RE9OLVED BY THE CITY CDUNCIL OF THE CI'I'Y OF PARIS, TEXAS: Section 1. That the proposed Urban Renewal Area described above is a slum, blighted, deteriorated or deteriorating area appropriate for aiz 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 1949s as amended and supplemented, in the proposed Urban Renewal Area described above$ is hereby approved. Section 2. That the financial assistance provided under said Title to assist urban renewal projects is needed and that the Housing and Home Finance Administrator is hereby reque5ted to reserve for an urban re- newal project in the proposed Urban Renewal Area described above Federal capital grant funds in an amount sufficient to enable the City of Paicis to finance the undertaking of the Project. Section 3. That it is cognizant of the conditions that are imposed iLn the undertaking and carrying out of urban renewal projects with Federal financial assistance under Title I. including the requirements of saiLd Title I respecting the workable program mentioned aboveg and that it is the sense of this body (a) that a feasible method for the relocation of families displaced from the urban renewal area, in conformity with siiid Title I, can be prepared, and (b) that local grants-in-aidg consistirig of donations of cash, land, demolition or removal work, and the instiilla- tion, construction or reconstruction of streets, utilities, parksp pl.ay- grounds or other improvements or the provision of other public buildi.ngs or facilities, necessary for carrying out in the Urban Renewal Area i;he urban renev+al objectives of said Title I in accordance with the urbari renewal plan, can and will be provided in an amount which will not be less than one-third of the net project cost and which, together with the Federal capital grant, will be generally equal to the difference betvveen gross project costs and the proceeds or value of project land sold, leased or retained for use in accordance with the urban renewal plan., Section 4. That the filing of an application by the City of Paris far an Advance of funds from the United States of America in an amount not to exceed $ 69,837.00 for surveys and plans for an urban re- newal project in the urban renewal area described above is hereby approved, and that the City Manager is hereby authorized and directeci to execute and file such Application with the Housing and Home Finance Administrator, and to provide such additional information and to furriish such documents as may be required by said Administrator, and to act as the authorized representative of the City of Paris.