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RESOLUTION TO AUTHORIZE A COOPERATION AGREEMENT WITH THE JONESBORO URBAN RENEWAL
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WHEREAS, under Title 1 of the Housing Act the Secretary 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 carried out under a NDP;
WHEREAS, the JUR has prepared and submitted a proposed NDP;
WHEREAS, in order for the authority to implement said program the assistance of the federal government and the City is required, namely the federal government by contributions of ¾ of the net cost of the project and the City making at least ¼ of the cost;
WHEREAS, it is necessary to execute a cooperation agreement between the City and JUR with respect to certain obligations and responsibilities of the City and the JUR in undertaking the Jonesboro Center NDP; and
WHEREAS, cooperation agreement has been reviewed and duly considered by the City of Jonesboro;
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL:
That the City is duly authorized to execute said cooperation agreement with the JUR.
PASSED AND ADOPTED this 7th day of May, 1973.