Page:United States Statutes at Large Volume 70.djvu/1155

 70 S T A T. ]

PUBLIC LAW 1020-AUG. 7, 1966

1099

community in accordance with sound planning standards and local community objectives and to afford maximum opportunity for the redevelopment of the project area by private enterprise: Provided, That loans and outstanding advances to any local public agency pursuant to the authorization of this sentence shall not exceed 2^/2 per centum of the estimated gross project costs of the projects undertaken under other contracts with such local public agency pursuant to this title." (2) The first sentence of section 110(d) of such Act is amended by ^^ ^^^ ^^^^^ striking out the words "either the second or third sentence" in clause (2) and inserting "the second sentence". (c) The first sentence of section 110(d) of such Act is amended by striking out the phrase ", public facilities financed by special assessments against land in the project area," in clause (3) and adding the following proviso before the period at the end of the sentence: ": And provided further, That in any case where a public facility furnished as a local grant-in-aid is financed in whole or in part by special assessments against real property in the project area acquired by the local public agency as part of the project, an amount equal to the total special assessments against such real property (or, in the case of a computation pursuant to the proviso immediately preceding, the estimated amount of such total special assessments) shall be deducted from the cost of such facility for the purpose of computing the amount of the local grants-in-aid for the project". (d) Section 110(e) of such Act is amended by adding the following at the end thereof: "Where real property in the project area is acquired and is owned as part of the project by the local public agency and such property is not subject to ad valorem taxes by reason of its ownership by the local public agency and payments in lieu of taxes are not made on account of such property, there may (with respect to any project for which a contract of Federal assistance under this title is in force or is hereafter executed) be included, at the discretion of the Administrator, in gross project cost an amount equal to the ad valorem taxes which would have been levied upon such property if it had been subject to ad valorem taxes, but in all cases prorated for the period during which such property is owned by the local public agency as part of the project, and such amount shall also be considered a cash local grant-in-aid within the purview of section 110(d) hereof. Such amount, and the amount of taxes or payments in lieu of taxes included in gross project cost, shall be subject to the approval of the Administrator and such rules, regulations, limitations, and conditions as he may prescribe." SEC. 303. (a) Section 102(d) of the Housing Act of 1949 is amended ^"*«' P- »O97. by adding the following at the end thereof: "In order to facilitate proper preliminary planning for the attain- ^^ ^,*^ood^nliniwai ment of the urban renewal objectives of this title, the Administrator Plans, may also make advances of funds (in addition to those authorized above) to local public agencies for the preparation of General Neighborhood Renewal Plans (as herein defined) for urban renewal areas of such scope that the urban renewal activities therein may have to be carried out in stages, consistent with the capacity and resources of the riBspective local public agency, over an estimated period of not more than ten years. No contract for advances for the preparation of a General Neighborhood Renewal Plan may be made unless the Administrator has determined that: "(1) in the interest of sound community planning, it is desirable that the urban renewal area be planned for urban renewal purposes in its entirety;

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