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114 A RESOLUTION.AUTHORIZING ~ CIT~ MANAGER TO ENi~ INTO A CLOSEOUT AGREEN~T W±'i'H PORTSMOUTH REDEVELOPMENT AND ~OUSING AUTHORITY AND THE DEPAR/tHEBrf OF HOUSING AND URBAN DEVELOPME~=f FOR ~'k'INGHAM ~ PROJECT ~A. R-72. WHEREAS, the Portsmouth Redevelo~t And Housing Authority has um~ertaken a redevelopment program with financial assistance fram the Department of Housing And Urban Develot~ent (HUD) and local cooperation by the City, with programs identified as "Effingh~m Renewal Project ~A. R-72~ and WI~EREAS, the Portsmouth Redevelopment And Housing Authority entered into a Loan Contract ~ith the Department of Housing And Urban Develop- ment to provide Federal financial assistance with the undertaking of the program; and W~KLR~AS, on March 12, 1973, Portsmouth Redevelopment And Housing Authority and the City of Portsmouth entered into a C~peration Agreement, said Agreement having been amended frcm time to time, by which the City agreed to, and did provide, certain local assistance for the program; and WHEREAS, the parties hereto desire to enter into a financial settle- ment of the program as authorized by Sectien 112 of the Housing And CC~L~L~unity Development Act of 1964 (PL93-383) and the provisions of 24CFR of Part 570, sub-part I; and WHEREAS, it is certified that environmental review pursuant to 24tm'K Part 58.20 has been cc~pleted by Portsmouth Redevelopment And Housing Authority, and that the citizen participation required under Section 570.803(d) (2) of said Federal Registrsr has been completed. NOW~ THEREFORE, BE IT RESOLVED by the Council of the City of Ports- mouth, Virginia, that the City. Manager be, and he hereby is, authorized to sign a Closeout Agreement for the ~unt Effingh~m Renewal .Project, VA, R-72. This resolution shall take effect frcm the date of its adoption. Adopted by the Council of the City of Portsmouth~ Virginia, at a meeting held November 22, 1977. Teste: City Clerk