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AN ORDINANCE ~%_DPt~OV..~. G THE ilEDEVELOPA4ENT <br />PLAN AND TH~ F~SiBILiTY O~ kEf~CATION FO~ <br />PROJE~T VA R-6, L~COJ~SVILLE PR.O~ECT~ <br />~INING TN~.T SA~ P~OJECT ~a tS BLIGHTED AND <br />DETERIO~TED ~-IT~N THE PURVIEW OF SECTION <br />~6-49, COD~ OF ~RGI~, AUTHOr(ZiNG THE ~ECL~ION <br />OF A COOPERATION AGREEDiENT WiTH THE ~TS~OUTH <br />~EDEVE~P~ENT AND HOUSIHG ;J~O~!TY ;~D M~KING <br />SUG~ OTH~ DETER~INA_TiOiqS kND P~OV~SIONS AS <br />~UtRED IN CO~ECTION WiTH SA~ P~OJECT BY THE <br />LA%rS OF THE CO~ONV;E~TH OF V~GIN~ ~ THE <br />~TED STAT~ OF ~E~ICA <br /> <br /> WHEHEA$, under the provisions of Title I of the Housing Act of 1949, as <br /> amended, th~ Housing and Home Finance Administrator is au~or~zed <br /> provide financi~ assis~ce to Loc~ Public Agencies for ~derta~ and <br /> ca~r~ng out redevelopmen~ p~ojects; <br /> <br /> ~E~E~, ~ ~s p~ov~ded ~n such Act that contracts for {~na~clat <br /> there~der sha~ req~re t~ ~e ~edevetopment Pl~ for ~he respec~ve <br /> project area be appr~ed by the gover~ng body of the loca~ty <br /> project is situa~d and that such appr~al inclade findings by the governin~ <br /> hod~ t~t: (1) the [inacial aifl to be provided in the con~act is necessary to <br /> e~ble t~ project to~ ~dertaken in accord~ce wi~ the Redevelopment <br /> P~; (2) the ~edevelopment Plan ~ ~ford ma~mum opportunity, consistent <br /> with the sold ~eds of ~e toca~ty asa whole, for ~e redevelop~nt of th~ <br /> project area by privat~ enterprise; and (3) the ~edevelo~ent Plan co~orms <br /> to a ae~ral plan for ~e development ~ the tocalit~ as a whole; <br /> <br />WHERe, ~e Portsmou~ <br />c~ed ~e "~cal co~racts <br /> of America, acting <br />by Administrator, p~s~ant <br /> whi~~ Federal f~ds are prodded for the redevelopment pro~Ct lherein called <br /> the ,,Pro~ect,,} i~n~ed as '~ncolnsv[lle Project, Pro~ect VA ~z6~' and <br /> encom~s'sing the area ~ded generally by the ~1 Hos~al <br /> · ~ ~ t- dar Grove Cemeter , and Forl ~ e, as <br /> w ~=~n~ Street, , Hor~ Stree , Ge . .... <br /> shown on ~iblt t of the said ~edevelopment P~n, ent~l~d "A~s~on <br /> Map", Portsm0u~, Vir~a, (herein called the "L6c~y"); and <br /> <br /> WHEREAS, the Local <br />assistanc~ under such Act and <br />contracts with the Housing <br />and for making available addi <br /> <br />additio~M financial <br /> contract or <br /> 'taking of, <br /> the Pro~ect; and <br /> <br /> %.~HEREA~S, ~he Lo~al Public Agency has made deta~Ied studies of the <br />loca~i: uses, en~ronmen~l in- <br /> and economic conditions of the ~roject <br /> <br /> <br />