Urban Employment Act

[AI summary unavailable — showing source text] Urban Employment Act - Provides a program to assist municipalities and businesses in urban industrial development to prevent the harmful economic consequence of industrial migration from large cities which causes a waste of the economic resources in the cities, serious unemployment in the labor force, and an erosion of the tax base of the cities. Provides Federal Financial assistance including grants and loans directly to municipalities and to private industry to alleviate the wasteful economic disruption and less resulting from the movement of industrial firms away from the cities. Authorizes direct grants not to exceed 25 percent of the cast of the project to any central city with a population of 100,000 or more for the purchase and development of real property within the central city to improve the economic opportunities and expansion of industrial facilities in the area and to assist in the creation of additional long-term employment opportunities. Authorizes appropriations not to exceed $50,000,000 per fiscal year for the fiscal years ending June 30, 1973 through June 30, 1977, and states that more than 15 percent of any appropriation in any fiscal year be expended in any one …