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6 <br />Estate Assessor feels that as an investment the purchase price of $130,000 is a fair value, <br />and th at his $47,900 assessment was based on the property housing trailers. <br /> <br /> Mr. Cox reminded Council that this is a project the City has been trying to make <br />happen for some time. He said that the lots will inevitably be more valuable in the future. <br /> <br /> Mr. Cara vati made a motion to approve the resolution <br /> <br />Ms. Richards seconded the motion, and said that after a tour of the property and <br />discussing alternatives, she feels this is the best thing to do. She said there is the <br />opportunity to revise the use of this pro perty in the future, and she feels it is a big plus for <br />this project. <br /> <br />The Resolution Authorizing the Purchase of Property on Estes Street was <br />approved by the following vote. Ayes: Mr. Caravati, Mr. Cox, Ms. Richards. Noes: <br />Mr. Lynch and Mr. Schilling. <br /> <br />BE IT RESOLVED <br /> by the Council of the City of Charlottesville, Virginia <br />that this Council hereby authorizes the Mayor to sign the following document, in <br />form approved by the City Attorney: <br /> <br />Agreement between the City of Charlottesville and Ethel S. <br />Gibson for purchase by the City of property designated as <br />Parcel 53 on City Tax Map 30 (842/844 Estes Street) and the <br />two mobile homes situate on said property. <br /> <br /> The City Manager, or his designee, is hereby authorized to sign the deed of <br />conveyance accepting th e property on behalf of the City, and any supporting <br />documents required to close on this real estate transaction, in form approved by <br />the City Attorney. The City Attorney is directed to take all steps necessary to <br />effect this property acquisition. <br /> <br />Mr. Sc hilling said he has not been looking at this issue from an investment <br />standpoint, and feels it is a bad precedent to pay more than the property is assessed. <br /> <br />ORDINANCE <br />: TAX AND RENT RELIEF PROGRAMS <br /> <br /> Mr. O'Connell explained that Council asked staff to loo k at increasing the <br />eligibility requirements as part of the budget, and also asked that it apply to the June tax <br />bills. Mr. O'Connell said staff feel this can be done financially. He noted that this brings <br />the City's program up to the maximum allowed by State law. <br /> <br /> Ms. Richards emphasized that this provides relief from rising property <br />assessments and is retroactive to January 1, 2003. Ms. Richards encouraged the public to <br />contact the Commissioner of Revenue about the program. <br /> <br />On motion by Ms. Richards, seconded by Mr. Caravati, the ordinance entitled <br />"AN ORDINANCE TO AMEND CHAPTER 30 (TAXATION) OF THE CODE OF <br />THE CITY OF CHARLOTTESVILLE, 1990, AS AMENDED, TO INCREASE THE <br />INCOME AND ASSET LIMITATIONS GOVERNING ELIGIBILITY FOR <br />PARTICIPATION IN THE CITY'S REAL ESTATE TAX RELIEF PROGRAM" was <br />offered and carried over to the next meeting for consideration. <br /> <br />Mr. Schilling said he sees this as a short term solution. He said some are getting <br />relief but others are paying for it. Mr. Schilling said a restructurin g of taxes is needed. <br /> <br />PUBLIC <br /> <br /> Mr. Al Reynolds, speaking about the permit parking amendment, said he <br />appreciates the process and efforts by staff and Council in getting the ordinance passed. <br /> <br />