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COOPERATION AGREE}!ENT EFFINGIi~M PROJECT VA.R-72 THIS AGREEMENT entered into this day of March 1973, by and between Portsmouth Redevelopment and Housing Authority, a duly organized and existinghodypolitic of theCommonwealth of Virginia, hereinafter called the Authority, and the City of Portsmouth, a municipal corporation of the Commonwealth of Virginia, herein called the City. WITNESSETH THAT : WHEREAS, by resolution adopted by the Commissioners of the Authority at a specially scheduled meeting on March 12, 1973, the Portsmouth Redevelop- ment and Housing Authority has approved that certain Conservation and development Plan for the Effingham Project, Va. R-72, Portsmouth, Virginia, dated March 12, 1973; and WHEREAS, by resolution adopted by the Council of the City of Portsmouth said Plan has likewise been approved by City; a~d WHEREAS, the said Plan contemplates the acquisition of land and clearance and improvements by the AuthOrity Within~the project area set forth in the Plan and its exhibits, the sale and reuse of portions thereof for residential purposes, commercial purposes and public purposes, all of which have'been determined by the City to be in accordance with the General Plan of the City as a whole, or to be modified in accordance therewith, and in-accordance with certain definite local objectives as to appropriate land uses, public transportation, public utilities, reCreational facilities and other improve- ments as set forth in said plan and ordinenceg and WHEREAS, in order for the Authority to effectuate said Plan, the assistance of both the Federal Government and the City is required; namely of the Federal Government in lending fuuds needed to defray the gross cost of the __~. ~ ~ ~ ~v~ hv ~a~in~ certain local ~rants-in-aid (as specified