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WHEREAS Section 703 of the Housing and Urban Development <br /> <br />Act of 1965 authorizes the making of grants of Federal~ funds t0 any local · <br />public body or agency to assist in financing the development ~cost of <br />neighborhood facilities necessary for ~arring out programs of community <br /> <br />service~ and ~ :'~' ~ <br /> <br /> WHEREAS the City of Portsmouth (herein sometimes referred to <br /> <br />As "Applicant") deems it to be necessary and in-the ~ublic interest to <br />provide certain facilities of the type. contemplated, in said Section 703 <br />and to undertake a project (hereinafter called the "Neighborhood Facilities <br />Project") with Federal grant assistance, described as Old City Armory ; and <br /> <br /> WHEREAS it is recognized that the Federal contract fOr such <br /> <br />financial assistance pursuant to said Section 703 will impose cert~tu <br />obligations and responsibilities upon the Applicant and will require among <br />other things (1) the provision of the local share of the cost of the Neighborhood <br />Facilities Project, (2) the provision for and Obligation to finance ,necessary <br />operating cost for said facility, (3) ~ssurances that families or individuals <br />displaced as a result of the development of the Neighborhood Facilities <br />Project will be offered decent, s~fe, and sanitary housing within~ their means, <br />(4) the making of relocation payments in accordance ~rith the regulations of <br />the Department of Housing and Urban Development, (5) compliance with <br /> <br /> <br />