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A RESOLUTION AUTHORIZING THE CITY MANA~ TO ENTER INTO A CLOSEOUT AGRE~I~ENT WITH PORTSMOUTH REDAVEIOPM~NT AND HOUSING AUTHORIT~ AND THE Dt~PAR'Ilvi~]T OF HOUSING AND UP. BAN DEV~..D~ FOR I~UNT ~ R52~,~L PROJECT VA. R-69. WHEREAS, the Portsmouth Redevelopment And Housing Authority has undertaken a redevelopment program with financial assistance frc~ the Department of Housing And Urban Development (HUD) and local cooperation by the City, with programs identified as "Moont Hermon Renewal Project VA. R-69; and WHEREAS, the Portsmouth Redevelopment And Housing Authority entered into a Loan Contract with the Department' of Housing And Urban Developmant to provide Federal financial assistance with the undertaking of the program; and P~%EAS, on September 15, 1972, Portsmouth Redevelopment And House_rig Authority and the City of Portsmouth entered into a Cooperation Agreement, said Agre~aent having been amended frc~ time to time~ by which the City agreed tow and did provide, certain local assistance for the program; and WHEREASt the parties hereto desire to enter into a financial settle- ment of the program as authorized by Section 112 of the HoLding And Co, fatuity Development Act of 1964 (PL93-383) and the provisions of 24CFR of Part 570, sub-part I; and WHEREAS, it is ce=~+~ified that environmental review pursuant to 24CFR Psrt 58.20 has been cc~pleted by Portsmouth Redevelopment And Housing Authority, and that the citizen part/cipation required ~nder Section 570.803Id) (2) of sa~d Federal Registrar has been ccmpleted~ NOW, THEREFORE, ~E IT RESOLVED by the C~ancil of the City of Ports- mouth, Virginia, that the City Manager be, and he hereby is~ authorized to sign a Closeout Agreement for the' Mount Hermon Renewal Project~ VA. R-69. This resolution shall take effect frc~ t~h~ date of its adoption. A~opted by the Council of the City of Portsmouth~ Virginia~ at a meeting held November 22~ 1977. City Clerk