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the project involved. No contract for any such advances of funds for surveys and plans for urban renewal projects which may be assisted under this title shall be made unless the governing body of the locality involved has by resolution or ordinance approved the undertaking of such surveys and plans and the submission by the local public agency of an application for such advance of funds." SEC. 305. Subsection (a) of section 103 of said Act, as amended, is hereby amended to read as follows: " (a) The Administrator may make capital grants to local public agencies in accordance with the provisions of this title for urban renewal projects: Provided, That the Administrator shall not make any contract for capital grant with respect to a project which consists of open land. The aggregate of such capital grants with respect to all the projects of a local public agency on which contracts for capital grants have been made under this title shall not exceed two-thirds of the aggregate of the net project costs of such projects, and the capital grant with respect to any individual project shall not exceed the difference between the net project cost and the local grants-in-aid actually made with respect to the project.". SEC. 306. Section 104 of said Act, as amended, is hereby amended by striking "section 110(f) of land" and inserting "section 110(f) of the property". SEC. 307. Section 105 of said Act, as amended, is hereby amended— (1) by striking "Contracts for financial aid" and inserting "Contracts for loans or capital grants"; (2) by amending subsections (a) and (b) to read as follows: " (a) The urban renewal plan (including any redevelopment plan constituting a part thereof) for the urban renewal area be approved by the governing body of the locality in which the project is situated, and that such approval include findings by the governing body that (i) the financial aid to be provided in the contract is necessary to enable the project to be undertaken in accordance with the urban renewal plan; (ii) the urban renewal plan will afford maximum opportunity, consistent with the sound needs of the locality as a whole, for the rehabilitation or redevelopment of the urban renewal area by private enterprise; and (iii) the urban renewal plan conforms to a general plan for the development of the locality as a whole; "(b) When real property acquired or held by the local public agency in connection with the project is sold or leased, the purchasers or lessees and their assignees shall be obligated (i) to devote such property to the uses specified in the urban renewal plan for the project area; (ii) to begin within a reasonable time any improvements on such property required by the urban renewal plan; and (iii) to comply with such other conditions as the Administrator finds, prior to the execution of the contract for loan or capital grant pursuant to this title, are necessary to carry out the purposes of this title: Proy*6?ec?, That clause (ii) of this subsection shall not apply to mortgagees and others who acquire an interest in such property as the result of the enforcement of any lien or claim thereon;"; (3) by striking the word "project" wherever it appears in subsection (c) and inserting the term "urban renewal"; and (4) by striking out the proviso at the end of subsection (c), and substituting a period for the colon preceding said proviso. SEC. 308. Section 106 of said Act, as amended, is hereby amended by inserting the following proviso before the period at the end of subsection (b): ": Provided, That necessary expenses of inspections and audits, and of providing representatives at the site, of projects being

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PUBLIC LAW 560-AUG. 2, 1954

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Application.

42 USC 1453. Capital grants.

42 USC 1454. Local grants-in» aid. 42 USC 1455. Loans or capital grants. Requirements. Approval plan.

Ob l i g a t i o n of purchasers, etc.

42 USC 1456. A u d i t and inspection fees.

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