No. 0031 approving the undertaking of surveys/plans for Chapin Street Urban Renewal Project on a 3/4's capital grant basis

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Resolution No. 31 2. That the financial assistance available under Title I to a sist urban renewal projects will be needed to enable the Citylof South Bend, Department of Redevelopment to finance the unde taking of the proposed Project. 3. That it is cognizant of the conditions that are imposed in the undertaking and carrying out of urban renewal projects with Federal financial assistance under Title I, including thoSE relating to the relocation of site occupants and the provision of local grants -in -aid and the requirements that as a co dition to the execution of a contract for a loan or capital grant for an urban renewal project the locality must present to the Housing and Home Finance Administrator a workable program, as s t forth in Section 101(c) of Title I, for utilizing appro- pria e public and private resources to eliminate and prevent the development or spread of slums and urban blight; and that it is the sense of this body: (a) that a feasible method for the relocation of families displaced from the Urban Renewal Area, in conformity with the requirements of Title I, can be prepared,' (b) that local grants -in -aid can and will be provided in an amount which will be not less than one - fourth of the net proje t cost of the Project and which, together with the Federal capit 1 grant, will generally be equal to the difference between gross sold, aid, such to expe project cost and the proceeds or value of project land leased, or retained for use in accordance with the urban plan, and (c) that, in addition to the local grants -in- ere will be provided funds in an amount necessary to pay sts of the Project (including but without being limited costs of title, appraisal, negotiating, and any other tures incidental to the acquisition of land, surveys -3� T 121