|
Resolution re:
<br />Approving financing
<br />& location of
<br />Breckinridge
<br />facility
<br />
<br /> WHEREAS the Authority on March 10, 1981, adopted an
<br />inducement resolution agreeing to assist Stanford L. Hoye
<br />and Charles B. Bland acting on behalf of themselves or an
<br />entity to be formed by them (the Developer) in the financing
<br />of the acquisition, construction and equipping of a hotel,
<br />restaurant and lounge facility to be located in the City of
<br />Charlotteaville~ Virginia, (the Project) by the issuance of
<br />the Authority~s industrial develoPment revenue bOnds in an
<br />~mount estimated not to exceed $10~000,000; and
<br />
<br /> WHEREAS preliminary plans for the Project and the financing
<br />nave been described to the Council in a presentation by
<br />~epresentativeS of the Developer; and
<br />
<br /> WHEREAS theProject will be located in the Vinegar Hill
<br />~edevelopment area in the City of Charlottesville, Virginia~
<br />~°w, therefore, be 'it
<br />
<br /> RESOLVED by-the Council of the City of Charlottesville,
<br />~irginia, that
<br />
<br /> 1, it is hereby found and determined that the acquisition,
<br /> onstruction and equipping of the Project will be in the public
<br /> interest and will promote the safety, health, welfare, convenience
<br /> ~= proPaperityof the City of Charlottesville, Virginia and
<br />its citizens, '
<br />
<br /> 2. the Council hereby approves the location and financing
<br />of the Project,
<br />
<br /> 3. it is hereby found and determined that the Project meets
<br />the criteria set forth in Section 5 of the Ordinance.
<br />
<br /> 4. this resolution shall take effect~immediately.
<br />
<br /> On motion by Mr, Albro, seconded by Ms. Gleason, Council
<br />unanimously adopted the following resolution:
<br />
<br /> WHEREAS the Council of the City of Charlottesville, Virginia,
<br />(the Council) 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, as amended on February 3, 1980, which created the Authority
<br />(the Ordinance) provides that the Authority shall not finance any
<br />facility until the location and financing of such facility have
<br />been approved by 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 10, 1981, adopted an
<br />inducement resolution agreeing to assist Alexander N. and
<br />Beverly W.. Breckinridge in the financing of the acquisition,
<br />construction and equipping of a warehouse and workshop facility
<br />including ~ales and office facilities incidental thereto to
<br />be located in the City of Charlottesville, Virginia, (the
<br />Project) which Project shall be leased to Virginia Glass Company,
<br />Inc,, by the issuance of the Authority's industrial development
<br />revenue bonds in an amount not to exceed $350,000; and
<br />
<br /> WHEREAS preliminary plans for the Project and the financing
<br />have been described tOthe Council in a presentation by
<br />Breckinridge; and
<br />
<br /> WHEREAS the Project will be located on Parcel 10-Z1 of
<br />the Garrett Street ProjeCt, being certain real estate located
<br />at the corner of Garrett and Gleason Streets in the City of
<br />Charlottesville, Virginia; now, therefore, be it
<br />
<br /> RESOLVED hy the Council of the City of Charlottesville,
<br />Virginia, that:
<br />
<br /> ~t t .
<br /> 1~ ~ ~ls 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, co{Venience
<br />or prosperity of the City of Charlottesville, Virginia, and its
<br />citizens,
<br />
<br /> 2, the' ~Ouncil hereby approves the location and financing
<br />of the ProjeCt~
<br />
<br /> 3. it.is hereby found and determined that the Project meets
<br />the criteria set forth in Section 5 of the Ordinance.
<br />
<br />4.thzs' resolution shall take effect immediately.
<br />
<br />4ZZ
<br />
<br />
<br />
|