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CFR 570. 3 of the Regulations are incorporated herein by <br /> reference and made a part hereof. <br /> • II. PURPOSE <br /> Municipality and County have determined that it is <br /> desirable and in the interests of its citizens that the County <br /> qualifies as an urban county within the provisions of the Act. <br /> This Agreement contemplates that identical agreements will be <br /> executed between the County and other cities and towns in Ramsey <br /> County and such numbers will enable the County to so qualify <br /> under the Act. <br /> The purpose of this Agreement is to authorize the County to <br /> cooperate with the Municipality in undertaking, or assist in <br /> undertaking, essential community renewal and lower income <br /> housing assistance activities, specifically urban renewal and <br /> • publicly assisted housing pursuant to community development <br /> block grants as authorized in the Act and the Regulations. <br /> III . TERM OF AGREEMENT <br /> The term of this Agreement is for a period commencing on <br /> the effective day of August 31, 1988, and terminating no sooner <br /> than the end of the third program year covered by the <br /> application for the basic grant amount approved subsequent to <br /> the effective date. This Agreement is extended automatically for <br /> each subsequent three-year program period unless written notice <br /> of termination to be effective at the end of the current three <br /> year program period is given by Municipality to County following <br /> the same schedule as the "opt out" notification requirements as <br /> established by HUD. The County shall provide written <br /> • notification to Municipality of Municipality's right to "opt <br /> 3 <br />