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112 A RESOLUTION AU~/~ORIZING ~E C3ft~ MANAGER TO ~gTER. INTO A CLOSEOUT AGREEMENT WiTi~ POR~SM0t/I{ R~DEVEIDP~ENT AND B~JSING AUTHORITY AND ~4E DEP/LRg/~E~f OF HOUSING AND URBAN DEVELOPMS~T FOR k~Dt~4SIDE REDEVELOP- M~k~f PROJECT, VA. R-39~ W~REAS, the Portsmouth Redevelota~ent And Housing Authority has undertak~_n a ~edevelo~ment program with financial assistance frc~ the Department of Housing And Urban Development (HUD) and local cooperation by the City, with programs identified as "Northside R~development Project'E VA. R-39; and WheREAS, the Portsmouth Redevelopment And Housing Authority entered into a Loan Contract with the Department of Housing An~ UIban Develop- ment to provide Federal financial assistance with the undertaking of the program; and W~, on August 9, ~966, Port~nouth Redevelopment And Bousing Authority and the City of Portsmouth entered into a Cooperation Agreeme_nt~ said Agreement having been amended fru~ t/me to time~ by which the Ci~t agreed to, and did provide~ certain local assistance for the program; and ~/~%EAS, the parties hereto desire to enter into a financial settle- ment of the program as authorized by Section 112 of the Housing An~ Community Development Act of 1964 (PL93-383) and the provisions of 24C~'~ of Part 570, sub-part I; and WHERFAS, it is certified that environmental review pursuant to 24CFR Part 58.20 has been c~L%~leted by Portsmouth Redevelopment And Housing Authority and that the citizen participation required, under Section 570.803(d) (2) of said Federal Registrar has been cc~pleted. NOW, ~RE, BE IT RESOLVED by 'the Council of the City of Portsmouth, Virginia~ that the City Manager be, and he hereby is, authorized to sign a Closeout Agreement for the Nortbside Redevelopment Project, VA. R-39. This resolution shall take effect frc~ the date of its adoptiori. Adopted by the Council of the City of Portsmouth, Virginia, at a meeting held November 22, 1977. Teste: City Clerk