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3 <br />2. That the financial assistance available under Title I <br />to assist urban renewal projects will be needed to enable the <br />Citylof South Bend, Department of Redevelopment to finance the <br />aking of the proposed Project. <br />. That it is cognizant of the conditions that are imposed <br />in the undertaking and carrying out of urban renewal projects <br />withlFederal financial assistance under Title I, including <br />thosel relating to the relocation of site occupants and the <br />provision of local grants -in -aid and the requirements that as <br />a condition to the execution of a contract for a loan or capital <br />grant1for an urban renewal project the locality must present to <br />the Housing and Home Finance Administrator a workable program, <br />as set forth in Section 101(c) of Title I, for utilizing appro- <br />priat� public and private resources to eliminate and prevent <br />the development or spread of slums and urban blight; and that <br />it islthe sense of this body: (a) that a feasible method for <br />the relocation of families displaced from the Urban Renewal <br />Area,lin conformity with the requirements of Title I, can be <br />prepared, (b) that local grants -in -aid can and will be provided <br />in anlamount which will be not less than one - fourth of the net <br />project cost of the Project and which, together with the Federal <br />capital grant, will generally be equal to the difference between <br />gross project cost and the proceeds or value of project land <br />sold, leased, or retained for use in accordance with the urban <br />renewal plan, and (c) that, in addition to the local grants -in- <br />aid, here will be ;provided funds in an amount necessary to pay <br />such hosts of the Project (including but without being limited <br />to the costs of title, appraisal, negotiating, and any other <br />expenditures incidental to the acquisition of land, surveys <br />-3- <br />T 121 <br />