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4:29
<br />
<br />individual expenditure accounts in the CDBG fund are hereby reduced
<br />by the respective amounts shown, and the balance accumulated in that
<br />fund as a result of these reductions is hereby reappropriated to the
<br />respective other accounts shown as follows:
<br />
<br />APPROPRIATION:
<br />$22,082
<br />CIRCUIT COURT
<br />CLERK'S OFFICE
<br />(2nd reading)
<br />
<br />Program Account
<br />Year Code
<br />
<br />1982-83 24-19010
<br />1983~84 24~15010
<br />
<br />1983-84 24-15030
<br />1983-84 24-42120
<br />
<br />1983-84 24-31030
<br />
<br />Purpos~ _e Re'duc~ti'on Addition
<br />
<br />CDBG Administration
<br />CDBG Housing
<br /> Administration
<br />CDBG Relocation
<br />S.H.E. Community
<br /> Education
<br />Belmont Ave. Sidewalk/
<br />
<br />?,340.00
<br />
<br />4,410.39
<br />12,700.00
<br />
<br />Proposed Revised
<br />Appropriation
<br />
<br />$ 0
<br />
<br />362.50
<br />
<br /> Drainage $ 6,764.57
<br />1983-84 24-31120 Cherry Avenue Sidewalk 5,688.00
<br />1983-84 24-31070 Meade Avenue Drainage 3,430.00
<br />1983-84 27-31030 7~ and Elm Street
<br /> Drainage
<br />
<br />17,764.57
<br />15,688.00
<br />63,430.00
<br />
<br /> 8,930.32
<br />$24,812.89 $24,812.89
<br />
<br />32,330'.92
<br />
<br /> The $22,082 appropriation for the Circuit Court Clerk's Office which
<br />was offered at the meeting of September 17th was approved by the following
<br />vote. Ayes: Mr. Barnes, Mr. Buck, Dr. Hall. Noes: None. Absent:
<br />
<br />Mrs. Gleason, Dr. Gunter.
<br />
<br /> BE IT RESOLVED that the sum of $22,082 is hereby appropriated from
<br /> the general fund balance to account 01-12010 to cover benefit costs for
<br /> personnel in the Charlottesville Circuit Court Clerk's Office not
<br /> previously included in the 1984-85 budget.
<br />
<br />RESOLUTION: Mr. Hendrix stated that the Indus.trial Development Author.itv met in
<br />AUTHORIZING
<br />$1.5 MILLION IN special session the same afternoon and approved the request by Fifth and
<br />INDUSTRIAL
<br />DEVELOPMENT BONDS Mall Limited Partnership.for $1.55 million in industrial development bonds
<br />FOR FIFTH AND
<br />MALL LIMITED for construction of office and retail buildings at 500 East Main Street.
<br />PARTNERSHIP
<br /> Ms. Nancy Little of McGuire, Woods and Battle, representing the Fifth
<br /> and Mall Limited Partnership, stated that only $938,000 remained of the
<br /> City's industrial development bond allocation and the additional $612,000
<br /> would need to be requested from the State pool.
<br /> Dr. Charles Hurt presented Council the plans for the proposed buildings.
<br /> On motion by Dr. Hail, seconded by Mr. Barnes, the resolution authorizing
<br /> $1.55 million in industrial development bonds for Fifth and Mall Limited
<br /> Partnership was approved by the following vote. Ayes: Mr. Barnes, Mr. Buck,
<br /> Dr. Hall. Noes: None. Absent: Mrs. Gleason and Dr. Gunter.
<br />
<br /> WHEREAS, the Industrial Development Authority of the City of
<br />Charlottesville, Virginia (the "Authority"), has considered the application
<br />of Fifth and Mall Limited Partnership (the "Company") requesting the
<br />issuance of the Authority's industrial development revenue bonds in an
<br />amount not to exceed $1,550,000 (the "Bonds") to assist in the financing
<br />of the Company's acquisition, construction and equipping of a retail and
<br />office complex consisting of approximately 19,000 square feet (the "Project")
<br />to be located at S00 E. Main Street, at the intersection of E. Main Street
<br />and Sth Street, in the City of Charlottesville, Virginia, and has held a
<br />public hearing thereon on. September 24, 1984; and
<br />
<br /> WHEREAS, Section 103(k) of the Internal Revenue Code of 1954, as
<br />amended, provides that the governmental unit having jurisdiction over
<br />the issuer of industrial development bonds and over the area in which
<br />any facility financed with the proceeds of indus'trial development bonds
<br />is located must approve the issuance of the bonds; and
<br />
<br /> WHEREAS, the Authority issues its bonds on;behalf of City of
<br />Charlottesville, Virginia (the "City"); the Project is to be located in
<br />the City and the Council of the City of Charlottesville, Virginia (the
<br />"Council") constitutes the highest elected governmental unit of the
<br />City; and
<br />
<br /> WHEREAS, the Authority has recommended that the Council approve
<br />the issuance of the Bonds; and
<br />
<br /> WHEREAS, a copy of the Authority's resolution approving the issuance
<br />of the Bonds, subject to the terms~to be agreed upon, a certificate of
<br />the pub, lic hearing, and a Fiscal Impact Stateme~t-~have been filed with
<br />the Council;
<br />
<br /> BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CHARLOTTESVILLE, VIRGINIA:
<br />
<br /> 1. The Council approves the issuance of the Bonds by the Authority
<br />for the benefit of the Company, as required by Section 103(k) and Section
<br />
<br />
<br />
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