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290 CHARLOTTESVILLE REDEVELOPMENT AND HOUSING AUTHORITY Charlottesville RedeVelopment and Housing Authority and would provide for the escrow arrangement for the investment of the funds during the construction period. Dr. Gunter moved the Resolution authorizing Mayor to enter into a cooperation agreement with Charlottesville Redevelopment and Housing Authority for the Vinegar Hill Hotel Conference Center Project,.' Dr. Hall seconded, and it was unanimously approved by Council. WHEREAS, the CharlottesVille Redevelopment and Housing Authority (Authority), with the support of Council of the City of Charl'ottes- ville (Council], has devoted sUbstantial time and money toward the construction and development of a hotel/Conference center complex on the Vinegar Hill Urban Renewal Site in dOwntown' Charlottesvil.le for many years; WHEREAS, Council has determined that substantial public revenues and other benefits would be derived from such a hotel/conferenae center project; WHEREAS, the construction of a public conference center in connection with the hotel would promote trade, commerce, tourism and the general economic objectives of the Redevelopment Plan for the Vinegar Hill Redevelopment Project previously approved by CoUncil; WHEREAS, a need for additional public parking spaces exists in downtown Charlottesville, and such parking spaces would also benefit the general economy of the City and the convenience of the public as well as serving the needs of the conference Center, the federal office building on the Vinegar Hill site and other existing and future businesses; WHEREAS, Authority has reached tentative agreement with Lawler- Wood, Inc. for development of a hotel, conference center and parking facilities; and WHEREAS, Authority is empowered under the Virginia Housing Authorities Law to assist with the reconstruction of redevelopment projects by making loans or grants received from any public or private source, for the purpose of facilitating the construction of housing or other improvements constructed or to be constructed on land situated within the boundaries of a redevelopment project; NOW, THEREFORE, BE IT RESOLVED BY THIS COUNCIL, 1. That the Mayor for and on behalf of the City of Charlottes- ville, be and is hereby authorized and directed to execute a cooperation agreement with. Authority, to be dated as of October 27, 1983 (Cooperation Agreement), for the purpose of carrying out the Redevelopment Plan for Vinegar Hill Redevelopment Project, as amended, which agreement shall supersede any other cooperation agreement or other similar expression of assistance between the City and Authority relating to the construction and development of a hotel/conference center (except the Cooperation Agreement between the Authority and the City dated June 27, 1960 which is hereby expressly reaffirmed), and which agreement shall be substantially in the form attached to this Resolution. 2. Council authorizes and directs the City staff to cooperate with Authority staff and special counsel retained by Authority to prepare detailed agreements between and among all parties to the transactions necessary to bring the hotel/conference center project to succeSSful completion. 3. That if, in the judgment of the Mayor, City Attorney or special counsel retained by Authority, modifications to the Cooperation Agreement become necessary or advisable, then the City Manager is hereby authorized and directed to execute appropriate amendments to the Cooperation Agreement, provided that the purpose of such amendments is not to make material changes in the Cooperation Agreement. Mr. Wiley asked to have the minutes show that Mr. Conover did not participate in this meeting due to a conflict of interests. Mrs. Gleason stated that, as a life-long resident of Charlottes- ville, she was tremendoulsy pleased to see the Vinegar Hill project go forward. She added that she had listened to a tape of the public hearing held on October 24th and had taken all of the comments into consideration. Dr. Gunter requested a staff report concerning the increased number of violations in handicapped parking zones and the possibility