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A RESOLUTION AUTHORIZING THE MAYOR AND THE CITY MANAGER TO SIGN <br />A GRANT AGREEMENT BETWEEN THE U. S. DEPARTMENT OF HOUSING AND <br />URBAN DEVELOPMENT, PORTSMOUTH REDEVELOPMENT AND HOUSING AUTHORITY <br />AND THE CITY OF PORTSMOUTH PERTAINING TO 'THE APPROVED COMMUNITY <br />DEVELOPMENT PLAN OF 1975. <br /> <br /> WHEREAS, a legal question has arisen concerning whe- <br />ther a municipal corporation in Virginia has the legal power <br />to make grants-in-aid and low interest rate loans to low and <br />moderate income home owners; and <br /> <br /> WHEREAS, Portsmouth Redevelopment and Housing Authority <br />has such power; and <br /> <br /> WHEREAS, the U. S. Department of Housing and Urban De- <br />velopment has agreed that that portion of the approved community <br />development plan of 1975 providing for the making of grants-in- <br />aid, and low interest rate loans to low and moderate income <br />home owners shall be administered by the Portsmouth Redevelopment <br />and Housing Authority. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the <br />City of Portsmouth, Virginia, that the Council authorizes the <br />Mayor and the City Manager to sign a grant agreement between <br />the U. S. Department of Housing and Urban Development, Ports- <br />mouth Redevelopment and Housing Authority and the City 6f Ports- <br />mouth pertaining to the approved Community Development Plan of <br />1975. <br /> <br /> BE IT FURTHER RESOLVED that the City Manager is di- <br />rected to forward this resolution to the proper authorities. <br /> <br /> Adopted by the Council of the City of Portsmouth, <br />Virginia, at a meeting held March 11, 1975. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />