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39 <br /> <br />A RESOLUTION APPROVING A CONSERVATION PLAN FOR THE SHEA <br />TERRACE CONSERVATION PROJECT. <br /> <br /> WHEREAS, under the provisions of the Housing and <br />Community Development Act of 1974, as amended, financial <br />assistance is provided to localities for undertaking and <br />carrying out co~unity development activities, including <br />executioa of conservation projects; and <br /> <br />the <br /> <br /> WHEREAS, nhe Council of the City of Portsmouth recognizes <br />that certain areas of the City of Portsmouth, Virginia (City) <br />may be eligible for conservation plans as provided in Section <br />36-49.1, Code of Virginia, 1950, as amended; and <br /> <br /> WHEREAS, the Council of the City of Portsmouth deems it <br />to be in the public interest to encourage rehabilitation of <br />housing pursuant to such conservation plans when applicable; <br />and <br /> <br /> WHEREAS, pursuant to Section 36-49.1, Code of Virginia, <br />1950, as amended, Portsmouth Redevelopmenn & Housing Authority <br />may be instructed to investigate such areas of the City to <br />determine if such areas are eligible for a conservation plan, <br />and to prepare such ccnservation plan; and <br /> <br /> WHEREAS, a study of The Shea Terrace has been made and it <br />has been determined that the area is deteriorating and <br />eligible for conservation pursuant no Title 36 of the Code of <br />Virginia; and <br /> <br /> WHEREAS, a plan, identified as the Conservation Plan for <br />the Shea Terrace Conservation Project (hereinafter referred to <br />as the "Plan"), dated May 1988~ and consisting of four (4) <br />pages and two (2) exhibits and has been referred to this <br />Council for review and approval; and <br /> <br /> WHEREAS, the Plan for the conservation pro3ect identified <br />as the Shea Terrace Conservation District (hereinafter called <br />the "Project"), encompasses the area as described in the <br />boundary description within the Plan; and <br /> <br /> WHEREAS, a public hearing was held on May 24, 1988 <br />regarding the proposed Plan; and <br /> <br /> WHEREAS, Portsmouth Redevelopment and Housing Authority <br />has resolved that this Plan is in the best interest of the <br />City's renewal effort; and <br /> <br /> WHEREAS, said conservation projects must be approved by <br />the governing body of the City in which the Project is <br />situated pursuant to Title 36 of the Code of Virginia, 1950, <br /> <br /> <br />