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NOW, THEREFORE, in consideration of the mutual covenants <br />and promises contained in this Agreement, the parties mutually <br />agree to the following terms a~d conditions. I. DEFINITIONS <br /> For the purposes of this Agreement, the terms defined <br />in this section have the meanings given to them~ <br /> A. "The Act" means the Housing and CommUnity Development <br />Act of 1974, Title I, of Public Law 93-383, as amende£ <br />USC 5301 et se~). <br /> B. .,Regulations" means the rules and regulations <br /> promulgated pursuant to the Act, including but not limited <br /> to 24 CFR Part 570. <br /> C. "HUD" means the United States Department of Housing <br /> and Urban Development. <br /> D. "Cooperating Community" means any city or <br /> Anoka county which has entered into a cooperation agreemenL' - <br /> which is identical to this Agreement. <br /> The regulations contained in 42 USC 5302 of the Act and. <br /> 24 CFR 570.3 of the Regulations are incorporated herein by <br /> reference and made a part hereof. <br /> Il'PURPOSE <br /> Municipality and county have determined that it is <br /> desirable and in the interests of its citizens that the - <br /> County qualifies as an urban county within the provisions of <br /> the Act.' This Agreement c6ntemplates that identical agreements <br /> will be executed between the county and other cities and <br /> towns in Anoka County and su6h numbers will enable the <br /> County to so qualify under the Act. <br /> The purpose of this Agreement is to authorize the <br /> County to cooperate with the Municipality in undertaking, or <br /> assist in undertaking, essential community renewal and lower <br /> income housing assistance activities, specifically urban <br /> renewal and publicly assisted housing pursuant to community <br /> development block grants as authorized in the Act and the <br /> <br />Regulations. <br /> <br />-2- <br /> <br /> <br />