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HomeMy WebLinkAboutOrdinances Book 14, Page 152, No Resolution Number152 . A RESOLUTION OF THE CITY OF PADUCAH REQUESTING THE RESERVATION OF CAPITAL GRANT FUNDS, APPROVING THE UNDERTAIUNG OF SURVEYS AND PLANS FOR AN URBAN REIET_WAL PROJECT, AND THE FILING OF AN APPLICATION FOR FEDERAL ADVANCE OF FUNDS 1T-IEREAS, under Title 1 of the Housing Act of 1949, as amended, and the Mousing Act of 1954, as amended, and the Housing Act of 1959, the Housing and Home Finance Administrator is authorized to extend financial assistance to localities in the elimination and -prevention of the spread of their slums and urban blight through the planning and undertaking of urban renewal projects; and 1THEREAS, it is desirable and in the public interest that the City of Paducah prepare surveys and plans, presently estimated to cost appro-imately eighty-five thousand five huridred and thirty=nine dollars (,;85,539.00), in order to undertake and carry out an urban renewal project of the character contemplated by Section 110(c) of said Title I, in that certain area, proposed as an Urban Renewal Area, situated in the City of Paducah, County of McCracken, and State of Kentucky, and described as follows: An area of approximately two hundred acres in the southeast corner of the City of.Paducah extending from the floodwall to Bridge Street and from the Illinois Central Railroad.Company tipple track to the City Limits. WHEREAS, the above-cited Federal law requires as a condition to the e=;ecution of a contract for a loan and capital grant for an urban renewal project the locality has presented to the Housing and Home Finance Administrator a workable program, as set forth in Section 101(c) of Said Title I, for utilizing appropriate public and private resources to eliminate and prevent the development or spread of, slums and urban blight, to encourage needed urban rehabilitation, to provide for the tedevelopment of blighted, deteriorated, or clum areas or to undertake such other feasible community activities as may be suitably employed to achieve the objectives of such a program; and JHEREAS, it is recognized that contracts for loans and capital grants for urban renewal projects will require, among other things, (1) the approval of the urban renewal plan by the governing body of the locality in which the project is situated; (2) the provision of local grants-in-aid which may consist of donations of cash, land, demolition or -removal work, and the installation, construction or re- construction of streets, utilities, parks, playgrounds or other im- provements or the provision of other public buildings or facilities; and (3) the development of a feasible method for the relocation of families displaced from the urban renewal area. 153 Pd0'1 THEREFORE 13E IT RESOLVED BY THE. .BOARD OF COI IISSIWERS OF THE CITY OF PADUCAH Section 1. That 'the proposed Urban Renewal Area described above is a slum, blighted, deteriorated or deteriorating area appropriate for an urban renewal project and that the undertaking by the City of Paducah of surveys and plans for an urban renewal project of the character contemplated by Section 1101c) of the Housing Act of 19L?9, as amended and supplemented, in the proposed Urban Renewal Area described above, is hereby approved. SECTIOF 2. That the financial assistance provided under said Title I to assist urban renewal projects is needed and that the Housing and Home Finance Administrator is hereby requested to reserve for an urban renewal project in the proposed Urban Renewal Area described above Federal capital brant funds in an amount sufficient to enable the City of Paducah to finance the undertaking of the Project. SECTION? 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 the requirements of said Title I respecting the workable program mentioned above, 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 con- formity with said Title I, can be prepared, and (b) that local grants - in aid, consisting of donations of cash, land, demolition or removal work, and the installation, construction or reconstruction of streets, utilities, parks, playgrounds or other improvements or the provision of other public buildings or facilities, necessary for carrying outin the Urban Renewal Area the urban renewal objectives of said Title I in accordance with the urban renewal plan, can and will be provided in an amount which will not be less than one-third of the net project cost and which, together with the Federal capital grant,will be generally equal to the diffference between gross project costs and the proceeds or value of project land sold, leased or retained for use in accordance with the urban renewal plan. SECTION 1�. That the filing of an application by the City of Paducah for an Advance of funds from the United States of America in an amount not to exceed ,y85,53'9.00 for surveys and plans for an urban renewal project in the urban renewal area described above is hereby approved, and that the Executive Director of the Department of Urban Renewal of the City of Paducah is hereby authorized and directed to execute and file such application with the Ilousin�,:, and Home Finance Administrator, 151E and to provide such additional information and to furnish such documents as may be required by said Administrator, and to act as the authorized representative of the City of Paducah. eorge(f aco s MAYOR, CITY OF PADUCAH, KENTUCKY Passed by the Board of Commissioners September 30, 1959 Recorded by Sarah Thurman, City Clerk, September 30, 1959.