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RESOLUTION <br /> <br /> WHEREAS, the PORTSMOUTH REDEVELOPMENT AND HOUSING AUTHORITY (herein <br /> <br />called the "Authority") is engaged in the development and management of <br /> <br />low-rent housing in the City of Portsmouth, Virginia, (herein called the <br /> <br />"City") in accordance with the Virginia Housing Authorities Law; and <br /> <br /> WHEREAS, the City Council of the City on December 13, 1955, approved <br /> <br />the application of the Authority to the Public Housing Administration for a <br /> <br />reservation of 600 low-rent housing units and a Preliminary Loan for such <br /> <br />units to be developed in the City; and <br /> <br /> WHEREAS, on March 27, 1956, the Council of the City approved and <br /> <br />authorized the execution of a Cooperation Agreement between the City and the <br /> <br />Authority under which the City agreed to cooperate in the development and <br /> <br />management of approximately 600 units of low-rent public housing by the <br /> <br />Authority, and said Agreement was executed on March 28, 1956; and <br /> <br /> WHEREAS, the Authority now has an Annual Contribution Contract with <br /> <br />the Public Housing Administration under which Federal assistance is being <br /> <br />and will be extended for the development of 178 low-rent housing units <br /> <br />designated as Project VA 1-6; and <br /> <br /> WHEREAS, the City has cooperated with the Authority by rezoning the <br /> <br />site for said Project VA 1-6 and by closing streets on said project site; and <br /> <br /> WHEREAS, the Authority is now in the process of constructing said <br /> <br />Project VA 1-6; and <br /> <br /> WHEREAS, there is a need for such housing in the City, particularly <br /> <br />