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168 Mr. Clyde Gouldman, City Attorney, requested that Council authorize the Mayor to sign a Memorandum of Understanding with the Charlottesville Industrial Development Authority (CIDA) agreeing to the following: 1) CIDA will purchase approximately 16.599 acres of land from the CSX Transportation, Inc. for $1,500,000; 2) At closing of that purchase, the City will advance $283,000 to the CIDA at no interest; 3) The parties contemplate that this $283,000 will be used within six months as all or a portion of the City's payment to the CIDA for a small portion of the CSX property to be used as a city parking lot; 4) It is agreed that if closing of the parking lot does not occur within six months, the $283,000 advance will be returned to the City; and 5) If the purchase price for the parking lot is less than the $283,000 advance, the difference between the price and the advance will be returned to the City at closing. On motion by Mr. Vandever, seconded by Mr. Towe, Council unanimously voted to authorize the May6r to sign the Memorandum of Understanding with the Charlottesville Industrial Development Authority as outlined above by Mr. Gouldman. The meeting was adjourned. Pre,dent [ C~k-- COUNCIL CHAMBER - August 1, 1988 Council met in regular session on this date with the following members present: Mr. Buck, Rev. Edwards, Mr. Towe, Mr. Vandever, Ms. Waters. On motion by Rev. Edwards, seconded by Mr. Vandever, Ms. Gwen Bradley Jackson was appointed Acting Clerk of Council. MINUTES On motion by Mr, Towe, seconded by Mr. Vandever, the minutes of the July 18th meeting were unanimously approved as presented. PUBLIC Mr. Robert Gurley of 1100 Park Street stated that he was interested in the City starting a program to dispose of old paint and other toxic materials which should not be placed in the landfill. Mr. Hendrix stated that the matter has been discussed in the past and the issue revolves around the disposal of the items and the cost of a separate pickup. Ms. Waters requested that staff investigate the matter and report back to Council. Mr. Towe supplied staff with a research paper by Mr. Gurley on the issue. REQUEST: JAYCEES - WAIVING FEES FOR CIRCUS Mr. David Schmidt, representing the Charlottesville Jaycees, stated that the Jaycees will be sponsoring a circus on August 24th and 25th at Bagby Field on High Street and requested that Council waive the fees for the event.