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16 RESOLUTION APPROVING THE CONSERVATION AND REDEVELOPMENT PLAN AND THE FEASIBILITY OF RELOCATION FOR THE EFFINGPIAM PROJECT, VA. R-72. WHEREAS, under the provisions of Title I of the Housing Act of 1949, as amended, the Secretary of Housing and Urban Development is authorized to provide financial assistance to Local Public Agencies for undertaking and carrying out urban renewal projects (which term includes conservation and redevelop- ment projects); and WHEREAS, it is provided in such Act that contracts for financial aid thereunder shall require that the Urban Re- newal Plan (which term includes Conservation and Redevelopment Plan) for the respective project area be approved by the govern- ing body of the locality ~ which the project is situated and that such approval include findings by the governing body that: (1) the financial aid to be provided in the contract is nec- essary to enable the project to be undertaken in accordance with the Urban Renewal Plan; (2) the Urban Renewal Plan will afford maximum opportunity, consistent with the sound needs of the locality as a whole, for the rehabilitation or redevelop- ment of the urban renewal area by private enterprise; (3) the Urban Renewal Plan conforms to a general plan for the development of the locality as a whole; and (4) the Urban Re- newal Plan gives due consideration to the provision of ade- quate park and recreational areas and facilities, as may be desirable for neighborhood improvement, with special consider- ation for the health, safety, and welfare of children residing in the general vicinity of the site covered by the Plan; and WHEREAS, the Portsmouth Redevelopment and Housing Authority, herein called the "Authority", has entered into a planning contract for financial assistance under such Act with the United States of America, acting by and through the Secretary of Housing and Urban Development pursuant to which Federal funds were provided for the urban renewal project, herein called the "Project", identified as "Effingham Project, Va. R-72", and en- compassing the area bounded by the attached boundary description in the City of Portsmouth, State of Virginia, herein called the "Locality"; and ¥~EREAS, the Authority has applied for additional finan- cial assistance under such Act and proposed to enter into add- itional contract or contracts under the Department of Housing and Urban Develgpment for the undertaking of, and for making avail-