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235
<br />
<br />Special meeting
<br />Special meeting
<br />
<br />Presentation re:
<br />Pepsi-Cola Bottling
<br />Plant
<br />
<br /> BASEMENT CONFERENCE ROOM - TUESDAY, MARCH 18, 1980
<br />The Council met in special session on this Ate with the
<br />following members present: Mr. Albro, Mr. Brunton, Mr. Buck, Mr.
<br />Gatewood, Mrs. O'Brien. Absent: None.
<br />
<br /> A motion by Mr. Albro, seconded by Mrs. O'Brien, that unanimous
<br />consent be given to the consideration of any matters to come
<br />before this meeting was adopted hy the following recorded roue.
<br />Ayes: Mr. Albro, Mr. Brunton, Mr, Buck, Mr. Gatewood, Mrs. O'Brien.
<br />Noes: None.
<br />
<br /> Mr. Bob Stroud and Mr. Jimmy Jessup addressed the Council
<br />
<br />and briefly explained the plans of Pepsi Cola Bottling Company
<br />to acquire a parcel of land on Route 29 North for the construction
<br />of a bottling plant and office facilities for Pepsi Cola.
<br />
<br /> Mr. Stroud stated that the company wishes to finance this
<br />proposed facility with Industrial Development Revenue Bonds and
<br />stated that the bond authority had adopted an Inducement Resolution
<br />on March 18, 1980, agreeing to assist Pepsi Cola Bottling Company
<br />in the financing of the project. He stated the ordinance by
<br />Council which created the authority provides that the authority
<br />shall not finance any facility until the location and financing
<br />have been approved by the Council and requested such approval.
<br />
<br /> On motion by Mr. Albro, seconded by Mrs. O'Brien, the following
<br />resolution was unanimously adopted.
<br />
<br /> WHEREAS, the Council of the City of Charlottesville, Virginia,
<br />(the UCouncil"), has created the Industrial Development Authority
<br />of the City of Charlottesville, Virginia (the "Authority"), pursuant
<br />to the Virginia Industrial Development and Revenue Bond Act to
<br />fulfill the purposes of such Act; and
<br />
<br /> WHEREAS, the Ordinance adopted by the Council on July 19,
<br />1976, which created the Authority (the "Ordinance") provides
<br />that the Authority shall not finance any facility until the
<br />location and financing of such facility have been approved by
<br />the Council; and
<br />
<br /> WHEREAS, Section 5 of the Ordinance sets forth certain
<br />standards to be considered by the Authority and the Council in
<br />determining the nature and location of facilities to be financed
<br />by the Authority; and
<br />
<br /> WHEREAS, the Authority on March 18, 1980, adopted an induce-
<br />ment resolution agreeing to assist Pepsi Cola Bottling Company
<br />of Central Virginia in the financing of the acquisition, con-
<br />struction and equipping of a facility to be used principally for
<br />a bottling plant and office facilities incidental thereto to be
<br />located in the City of Charlottesville, Virginia (the "Project")
<br />by the issuance of the Authority's industrial development
<br />revenue bonds in an amount not to exceed $10,000,000.00 and
<br />such financing is further described in the copy of the Authority's
<br />said inducement resolution attached hereto as Exhibit A; and
<br />
<br /> WHEREAS, preliminary plans for theProject and the financing
<br />have been described to the Council in a presentation by representa-
<br />tives of Pepsi Cola Bottling Company of Central Virginia; and
<br />
<br /> WHEREAS, the Project will be located on approximately a
<br />seven or eight acre tract of land zoned M-1 fronting on the east
<br />side of U.S. Route 29 North and adjoining the property of the
<br />United States Post Office, which tract is proposed to be acquired
<br />from Clay M. Peyton and James H. Michael, Jr , Executors of the
<br />estate of Eunzce S. Michie and Clay M Peyton and Ruth N. Peyton,
<br />his wife; now, therefOre, be it
<br />
<br /> RESOLVED by the Council of the City of Charlottesville,
<br />Virginia;
<br />
<br /> 1. It is hereby found and determined that the acquisition,
<br />construction and equipping of the Project will be in the public
<br />interest and will promote the safety, health, welfare, convenience
<br />or prosperity of the City of Charlottesville, Virginia, and its
<br />citizens.
<br /> 2. The Council hereby approves the lOcation and financing
<br />of the Project.
<br />
<br />
<br />
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