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R-00-26 A RESOLUTION APPROVING A REDEVELOPMENT PLAN FOR THE TOWER REDEVELOPMENT PROJECT. WHEREAS, under the provisions of the Housing and Community Development Act of 1974, as amended, financial assistance is provided to localities for undertaking and carrying out community development activities, including the execution of redevelopmem projects; and WHEREAS, pursuant to Title 36 of the Code of Virginia, 1950, as amended, a local redevelopment and housing authority may not engage in the execution of a redevelopment project until the governing body of the locality in which the project is situated has approved a redevelopment plan which is sufficiently complete to: (1) To indicate its relationship to definite local objectives as to appropriate land uses and improved traffic, public transportation, public utilities, recreational and community facilities and other public improvements; (2) To indicate proposed land uses and building requirements in the area; (3) To indicate the land in the area to be made available to private enterprise for redevelopment and that land which is to be made available to public enterprise for redevelopment; and (4) To indicate the method for the temporary relocation of persons living in such areas; and also the method for providing (unless already available) decent, safe and sanitary dwellings in the locality substantially equal in number to the number of substandard'dwellings to be cleared from the area, at rents within the fmancial reach of the income groups displaced from such substandard dwellings, and; WHEREAS, the Redevelopment Plan for the Tower Redevelopment Project (hereinafter referred to as the "Plan"), has been referred to this Council for review and approval; and WHEREAS, the Tower Redevelopment Project (hereinafter called the "Project"), encompasses the area as described in the boundary description within the Plan in the City of Portsmouth, Commonwealth of Virginia (hereinafter called the "Locality"); and WHEREAS, a study of the project area has been made and it has been determined that the area is blighted and deteriorated by reason of dilapidation, obsolescence, faulty arrangement and design, deleterious land use and obsolete layout, is detrimental to the safety, health, morals and the general and economic welfare of the City and eligible for redevelopment pursuant to Tide 36 of the Code of Virginia; and WHEREAS, Portsmouth Redevelopment and Housing Authority has resolved that this Plan is in the best interests of the residents of the City of Portsmouth; and