2025-47 Cooperation Agreement – Housing Authority – Park Holm Phase V

WHEREAS, the Housing Authority of the City of Newport, Rhode Island, ("Housing Authority") owns and operates a certain Housing Project as defined in Section 45-25-3 of the General Laws of Rhode Island, 1956 as amended ("RIGL"), on Tax Assessor's Plat 5, Assessor's Lot 3; and

WHEREAS, said Housing Authority is located within the City of Newport which is defined as a "State public body" in RIGL Section 45-25-3; and

WHEREAS, the Housing Authority and City of Newport desire to support the replacement of a portion of the existing Housing Project with new housing to provide for the revitalization of public housing; and

WHEREAS, the Housing Authority and City of Newport entered into Cooperation Agreements with respect to the entire Assessor's Plat S, Assessor's Lot 3 on or about August 28, 1940, March 12, 1951, and on February 17, 1956 with Amendments dated on or about August 15, 1962 and April 10, 1964 and other Cooperation Agreements related to the Newport Heights development, and Phases I, II, III and IV of the redevelopment of Park Holm; and

WHEREAS, Phase V is a continuation of a larger project being developed by the Housing Authority of the City of Newport and is the fifth in a series of demolition and reconstruction projects involving Low to Moderate Income (LMI) housing units within the confines of the existing Housing Authority property; and

WHEREAS, Phase V achieves the pre and post redevelopment number of LMI housing units at Park Holm in kind. NOW THEREFORE, BE IT

RESOLVED: the Cooperation Agreement - Park Holm Phase V between the City of Newport and the Housing Authority of the City of Newport, is approved and the Council Chair is authorized to sign said Agreement on behalf of the City, subject to favorable review by the City Solicitor.

IN COUNCIL
READ AND PASSED
MARCH 26, 2025

Laura C. Swistak, CMC
City Clerk