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A RESOLUTION ENDORSING THE EXPANSION OF THE CITY OF <br />PORTSMOUTH'S PARTICIPATION IN THE FEDERAL URBAN HOMESTEADING <br />PROGRAM INTO THE NEIGHBORHOOD OF SHEA TERRACE; AUTHORIZING <br />THE CITY MANAGER TO SUBMIT AN APPLICATION THEREFOR. <br /> <br />4O <br /> <br /> WHEREAS, under the Housing and Community Development Act <br />of 1974, as amended, financial assistance is available to <br />localities which acquire FHA and VA foreclosed properties <br />under the Urban Homesteading Program; and <br /> <br /> %~HEREAS, the Council of the City of Portsmouth adopted a <br />resolution endorsing the City of Portsmouth's participation <br />in the Federal Urban Homesteading Program at a meeting held <br />January 22, 1985; and <br /> <br /> WHEREAS, through expansion of the Urban Homesteading <br />Program the City of Portsmouth can increase the areas in <br />which acquisition of foreclosed homes can be initiated which <br />will ultimately be made available to lower income families <br />desiring to own their own homes; and <br /> <br /> WHEREAS, a public hearing has been <br />public comments on the expansion of the <br />neighborhood of Shea Terrace. <br /> <br />held to solicit <br />ProGram into the <br /> <br /> BE IT FURTHER RESOLVED nhat the City Manager be, and <br />hereby is, authorized to submit any application and to <br />execute any documents as may be required in order to <br />implement the expansion of the Program. <br /> <br />he <br /> <br /> Adopted by the Council of the City of Portsmouth, <br />Virginia, at a meeting held June 14, 1988. <br /> <br />~. Teste: <br /> <br />City Clerk <br /> <br /> <br />