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Consideration re: <br />Appropriation ~ <br />$6,562.50 - LOAN <br />interest on Scattered <br />Housing Sites <br /> <br />Discussion re: Garrett <br />Street Project and <br />Labowitz Report <br /> <br /> 2,67' <br /> WHEREAS, pursuant-...to previous authorization from this Council <br />the Charlottesville Redevelopment and Housing Authority has made bonafide <br />offers to purchase properties approved by this Council as aires for low- <br />income public housing under Authority Project No. VA-16-4. <br /> <br /> WHEREAS', such offers have been accepted and the Authority is in <br />need of funds to pay for such sites pending reimbursement for such <br />expenditures from the United States Department of Housing and Urban Develop- <br />ment; and <br /> <br /> WHEREAS, the Authority has obtained a commitment from the Virginia <br />National Bank for a loan in the amount of $350,000.00 for such purpose, <br />provided the City of Charlottesville guarantees payment of such loan; <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of <br />Charlottesville, that the Mayor is hereby authorized to sign a letter <br />guaranteeing payment of a loan to be made by the Virginia National Bank <br />to the Charlottesville Redevelopment and Housing Authority in the amount <br />of $350,000.00 for a period of six months, the proceeds of which shall <br />be used to acquire such housing sites pending such federal reimbursement; <br />and <br /> <br /> BE IT FURTHER RESOLVED that such guarantee shall be conditioned <br />upon the agreement of the Authority that in the event the City shall <br />pay out funds pursuant to such guarantee, the Authority shall immediately <br />con~y to the City title to the property or properties acquired with <br />such funds. <br /> <br />On motion by Mr. Barbour, seconded by Mr. Gatewood the following <br /> <br />resolution was offered and carried over to the next meeting for consideration. <br /> <br /> BE IT RESOLVED by the Council of the City of Charlottesville, <br />that the sum of $6,562.50, or as much as may be needed to pay the interest <br />charges on such loan, is hereby appropriated from the unappropriated <br />balance of the General Fund to expenditures account 01-92320 as a grant <br />to the Charlottesville Redevelopment and Housing Authority. <br /> <br />Mr. Gatewood requested Mr. Stripling to check to see if this intereSt could <br /> <br />be paid from Community Development Revenue Sharing Funds. <br /> <br />The Council then held a discussion on the Garrett Street Urban <br /> <br />Renewal Project and the Labowitz Report with the Planning Commission and the <br />Charlottesville Redevelopment and Housing Authority. <br /> <br /> Mr. Lambert, Chairman of the Planning Commission presented the <br />concerns of the Planning Commission with reference to the Garrett Street <br />Urban Renewal Project with A1 Fill, from the firm of Harland Bartholmew <br />Associates reviewed the development plan prepared by his firm. One of <br />the concerns expressed by Mr. Lambert was that there would be no home <br />ownership in the area and also would there be any industry to create <br />jobs for the p~ople living in the area. <br /> <br /> Mr. Arrington explained the proposed development plan for the Garrett <br />Street Area. <br /> <br /> The Council then discussed the Labowitz Report concerning the <br />development of the Vinegar Hill Umban Renewal Area. The report suggested <br />the immediate use of the land as a park and parking or the idea of a <br /> <br />City Market and Parking on the land. Mr. Fife suggested the establishment <br />of a new corporation to solve the problem of this unity among the <br />forces governing downtown development. <br /> <br />On motion the meeting adjourned. <br /> <br /> Clerk a <br /> <br />~resident <br /> <br /> <br />