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RESOLUTION TO EXECUTE A COOPERATION AGREEMENT WITH JONESBORO URBAN RENEWAL AND HOUSING AUTHORITY
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WHEREAS, under Title 1 of the Housing Act as amended (Title 1), 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 undertakings and activities carries out under a Neighborhood Development Program; and
WHEREAS, the Jonesboro Urban Renewal and Housing Authority of the City of Jonesboro has prepared and submitted a proposed Neighborhood Development Program; and
WHEREAS, in order for the authority to implement said program, the assistance of both the Federal Government by contributing three-fourths (3/4) of the net cost of the project and of the City by making local grants-in-aid (as specified by Title 1 of the Housing Act of 1949, as amended) in a total amount equal to at least one-fourth (1/4) of the net cost of the project; and
WHEREAS, it is necessary to execute a cooperation agreement between the City of Jonesboro and the Jonesboro Urban Renewal and Housing Authority with respect to certain obligations and responsibilities of the City of Jonesboro and the Jonesboro Urban Renewal and Housing Authority in undertaking the Jonesboro Center Neighborhood Development Program; and
WHEREAS, said cooperation agreement has been reviewed and duly considered by the City of Jonesboro;
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF JONESBORO:
That the City of Jonesboro is duly authorized to execute said cooperation agreement with the Jonesboro Urban Renewal and Housing Authority.
PASSED AND ADOPTED this 3rd day of June, 1974.