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208. <br /> <br />0IC appropriation - <br />$33,268.67 as <br />loan <br /> <br />Work session <br /> <br />Executive session <br /> <br /> The City Manager advised the Council that the Opportunties <br />Industrialization Center is continuing to have financial <br />problems. The OIC employees have not been paid since the <br />City advanced funds to the organization in December. That <br />loan has been repaid with the exception of one thousand <br />dollars which OIC was in a position to repay, but was <br />advised to k~ep in order to alleviate the emergency <br />situation. The contract which would assign to the City <br />the benefit.s of OIC's contract with the State Department <br />of Education has been in Richmond awaiting State. approval <br />nearly a month. This contract would alleviate the cash <br />flow problems of OIC by having the City make immediate <br />payment to OIC for services performed and then await <br />reimbursement from the State. The City Manager therefore <br />recommended that the City once again loan OIC funds <br />totaling $33,268.67 to meet the current and back payrolls, <br />pending agreement by the State to the aforementioned <br />contractural agreement. <br /> <br /> On motion by Mr. Fife, seconded by Mr. Brunton and <br /> unanimously adopted, the rules were suspended to waive <br /> second reading of the following resolution. <br /> <br /> On motion by Mr. Barbour, seconded by Mr. Fife the <br /> folloWing resolution was adopted by the following recorded <br /> vote. Ayes: Mr. Barbour, Mr. Brunton, Mr. Fife, Mr. <br /> Gatewood and Mrs. 0'Brien. Noes: None. <br /> <br /> BE IT RESOLVED by the Council of the City of <br /> Charlottesville that the sum of $33,268.67 is hereby <br /> authorized to be expended from the unencumbered balance <br /> of the' General Fund as a loan to Central Virginia <br /> Opportunties Industrialization Center, Inc., a non- <br /> profit corporation, (Account Code 01-0000-1305); provided <br /> that such funds shall be repaid by Central Virginia <br /> Opportunties Industrialization Center, Inc. upon receipt <br /> of reimbursement for such expenses from the Common- <br /> wealth of Virginia. <br /> <br /> On motion the meeting adjourned to a work session on <br /> <br /> the Fashion Square rezoning application. <br /> <br /> A motion by Mr. Brunton, seconded by Mr. Gatewood that <br /> the Council go into executive session to discuss a matter <br /> exempted by Section 2.1-344(a)(2) of the Virginia Freedom <br /> of Information Act, was adopted by the' following recorded <br /> vote. Ayes: Mr. Barbour, Mr. Brunton, Mr. Fife, Mr. <br /> Gatewood and Mrs. O'Brien. Noes: None. <br /> <br />Clerk <br /> <br /> <br />