§ 513. Findings by the commissioner. 1. No loan, subsidy or grant
shall be made by the state for an urban renewal program unless the
commissioner shall find that:

(a) the municipality or agency, as the case may be, has entered into a
contract to receive capital grants, or loans and grants, from the
federal government under which the municipality is obligated to make
local grants-in-aid, or the governing body has found that such federal
financial assistance is not necessary for the undertaking and successful
completion of the program;

(b) in the case of a state loan, the state loan for which application
is made will not exceed one-half of such local grants-in-aid;

(c) in the case of a state capital grant, the state capital grant for
which application is made will not exceed one-half of the municipality's
share of the net project cost, or, if the municipality has not applied
to or entered into a contract with the federal government for advances,
loans or grants for a specific project, such grant shall not in any
event exceed five hundred thousand dollars ($500,000);

(d) adequate provision has been made in a relocation program to
provide housing for the persons and families to be displaced by the
urban renewal program;

(e) such program is in conformity with a plan or undertaking for the
clearance, replanning, reconstruction and rehabilitation of substandard
and insanitary areas and for recreational and other facilities
incidental or appurtenant thereto, and

(f) the estimated funds available to the municipality or agency, as
the case may be, including any federal loans and grants for the urban
renewal program, the local grants-in-aid and the state loan or capital
grant will be sufficient to cover all probable costs of the program.

2. Such findings shall be conclusive evidence of the facts therein
contained except upon proof of fraud or willful misfeasance by the
commissioner.