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<br />58A
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<br />MEMORANDUM OF AGREEMENT
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<br />This Agreement, made and entered into this /'7. day of , 1976,
<br />by and between the City of San Marcos, Texas, hereinafter referred 0 as City," and
<br />the Urban Renewal Agency of the City of San Marcos, Texas, hereinafter referred to as
<br />the "Agency," and concurred in by the United States Department of Housing and Urban
<br />. ,...,,,_n<. hmin.<<.. .=."m.. ,:::::::_e. .. """,," " .,,,mm,,'."
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<br />WHEREAS, the Agency has heretofore entered into that certain Neighborhood DE,ve10p-
<br />ment Program Master Agreement (and certain related Funding Agreements) with the llnited
<br />States of America providing for financial assistance to the Agency under Title I of the
<br />Housing Act of 1949, as amended, identified as Neighborhood Development Program 11aster
<br />Agreement No. Tex. A-6(LG), dated May 27, 1970, Project No. Tex. A-6; and
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<br />WHEREAS, pursuant to the terms of such Agreements, and a cooperation contra,~t
<br />between the City and Agency, the City is obligated to pay one-fourth of the net ;project
<br />cost through the furnishing of local grants-in-aid; and
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<br />WHEREAS, the City and Agency contend it has become necessary, due to the substan-
<br />tial completion of project urban renewal activities 'insofar as same may be completed
<br />from a practical and financial standpoint, to close out the project; and
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<br />WHEREAS, it has become necessary to evaluate further the continued carrying out
<br />of the urban renewal project, hereinafter called "project" or "projects;" and
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<br />WHEREAS, the City is willing to assume additional obligations respecting ttLe
<br />carrying out of certain,necessary duties and responsibilities imposed upon the Agency
<br />by the Neighborhood Development Program Agreements relating to the disposal of project
<br />lands presently under the control of the Agency;
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<br />I NOW, THEREFORE, the Agency and t. he City do hereby mutually agree and represent as
<br />follows: .
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<br />1. Innnediate1y following the execution hereof by all necessary parties the Agency
<br />shall proceed with all due diligence to transfer and convey to the City title to all un-
<br />sold project lands as listed in Attachment A hereto and made a part hereof~and subject
<br />to covenant~ under the provisions of which:
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<br />a. The use of the property by the City or its assignees shall be in accord-
<br />ance with the Urban Renewal Plan for Project No. Tex. A-6;
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<br />b. Any improvements on such property required by the Urban Renewal Plan
<br />shall be begun within a reasonable time after the property is acquired
<br />for purposes of redevelopment by the City or its assignees;
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<br />c. Any proposed reconveyances of such property by the City for purposes
<br />of redevelopment shall be subject to the public disclosure requirE,ments
<br />otherwise applicable to local public agencies in the disposition of pro-
<br />ject land to redevelopers under Section 105(e) of Title I of the Housing
<br />Act of 1949, as amended; and
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<br />d. Discrimination upon the basis of race, color, religion, sex, or national
<br />origin in the sale, lease or rental or in the use or occupancy of such
<br />land or any .. improvements erected or to be erected thereon shall lbe pro-
<br />hibited and the City and the United States shall be beneficiaries of and
<br />entitled to enforce such covenant.
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<br />2. All proceeds from the sale or lease of property identified in Attachment A
<br />shall be treated as program income of the City under the provisions of 24 CFR 570.506,
<br />provided however, that such proceeds may be applied to the reimbursement of any funds
<br />of the City, other than funds made available under 24 CFR 570.800, et seq., or cash
<br />local grants-in-aid required on the basis of incurred net project costs, which were
<br />used for the payment of temporary loans for the project.
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<br />3. In the subsequent disposition of project land acquired by the City the provisi,
<br />of Section 110(c) (4) of Title I of the Housing Act of 1949, as amended, regarding fair 1
<br />value shall not apply. '
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