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RESOLUTION TO APPROVE AN URBAN RENEWAL PROJECT BY THE JONESBORO URBAN RENEWAL AND HOUSING AUTHORITY
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WHEREAS, under Title I of the Housing Act of 1949, as amended, (herein referred to as Title I), the Secretary of Housing and Urban Development is authorized to extend financial assistance to local public agencies in the elimination and prevention of the spread of their slums and urban blight through the planning and undertaking of urban renewal projects; and
WHEREAS, it is desirable and in the public interest that the Jonesboro Urban Renewal and Housing Authority make surveys and prepare plans, presently estimated to cost approximately three hundred fifty-nine thousand dollars ($359,000) in order to undertake and carry out an urban renewal project of the character contemplated by Section 110 (c) of the City of Jonesboro, County of Craighead, and State of Arkansas, which is described as follows:
See boundary description from Code R 102
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF JONESBORO, ARKANSAS:
1. That the proposed Urban Renewal Area described above is a slum, blighted, deteriorated, or deteriorating area appropriate for an urban renewal project and that the undertaking by the Jonesboro Urban Renewal and Housing Authority of surveys and plans for an urban renewal project of the character contemplated by Section 110 (c) of Title I in the proposed Urban Renewal Area is hereby approved.
2. That the financial assistance available under Title I is needed to enable the Jonesboro Urban Renewal and Housing Authority to finance the planning and undertaking of the proposed project.
3. That it is cognizant of the conditions that are imposed in the undertaking and carrying out of urban renewal projects with federal financial assistance under Title I, including those relating to (a) the relocation of site occupants, (b) the provision of local grants-in-aid, (c) the prohibition of discrimination because of race, color, creed or national origin and (d) the requirement that the locality present to the Secretary of Housing and Urban Development, as a prerequisite to approval of the application described below, a workable program for community improvement, as set forth in Section 101 (c) of Title I, for utilizing appropriate public and private resources to eliminate and prevent the development or spread of slums and urban blight, and that said workable program for Jonesboro, Arkansas, has been certified as of January 1, 1970.
4. That it is the sense of this body (a) that a feasible method for the relocation of individuals and families displaced from the Urban Renewal Area, in conformity with Title I can be prepared and (b) that the local grants-in-aid can and will be provided in an amount which will be not less than ¼ of the net project cost of the project and which, together with the federal capital grant, will be generally equal to the difference between gross project cost and the proceeds or value of project land sold, leased or retained for use in accordance with the urban renewal plan.
5. That Section 105 (h) requirements regarding replacement of housing units for low or moderate income families are hereby recognized and that the project will be subject to same.
6. That the filing of an application by the Jonesboro Urban Renewal and Housing Authority for an advance of funds from the United States of America to enable it to defray the cost of the surveys and plans for an urban renewal project in the proposed Urban Renewal Area described above is hereby approved.
PASSED AND ADOPTED this 19th day of June, 1970.