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An Amendment To amend title I of the Housing Act of 1949 to authorize financial assistance for urban renewal projects involving the central business district of a community i·1ithout · regard to certain requirements otherwise applicable. That title I of the Housing Act of 1949 is amended by adding at the end thereof a new section as follows: "URBAN RENEWAL AREAS INVOLVING THE CENTRAL BUSINESS DISTRICT OF A COMMUNITY "SEC. 118. (a) community determines In any case where the governing body of a (1) that there exists in the central business district of such community conditions which (A) impose severe public, economic, or social liabilities, (B) impair, arrest, or prevent the sound growth, development, or redevelopment of the community, or (C) constitute a serious and growing threat to the public health, safety, morals, and welfare of the community, and (2) that the undertaking of an urban renewal project in such district will alleviate or remove such conditions and promote the public welfare and the proper development of the community, the Administrator is authorized to extend financial assistance under this title for such project without regard to the requirements in sec tion 110 with respect to the predominantly residential character or predominantly residential r euse of urban renewal areas. In contracting for any such project, the Administrator shall consider the need to plan for, and carry out undertakings with respect to, a sufficiently large area to accomplish the �- 2 - objectives of this title, and (i) the necessity for staging the project undertakings and activities on a functional rather than geographic basis, (ii) the provision of increased opportunities for effecting the relocation of displaced individuals and business concerns, and (iii) the greater amount of time that may be required for achieving such objectives through selective and coordinated action. Site improvements and supporting facilities which are peculiarly appropriate to the revitalization and renewal of the central business district of the community involved, when provided by a public body or entity, shall be eligible as part of gross project cost and as a local grant-in-a id in connection with a ny such urban renewal project. "(b) Upon appr oval by t he Secretar y a n d subject t o s uch co n d i tions as he may determin e to be in th e public int erest , t h e loc a l p ublic agency may a c qui r e struc tur e s situa ted i n any u r b a n r ene wal a rea approved fo r a project unde r subsection (a) whi ch ar e d e t e rmi n e d to be of unu s u a l s ignifi c anc e f o r histo r ic a l or other reasons, restore or rehabilitate t hem, and make a vail able the restored or r e hab il itat e d structure s t o any n onpro f it c o rp o rat ion o r ass oc iation, or pub l i c b o dy o r age nc y , f o r p u rchase at fair value f or nonpr o prietary uses in t he publ i c i n t erest. "(c) As used in th i s section, the term 'central business district' means the administrative, commercial, financial, governmental : and cultural center of a community, including its support ing service areas." �