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20 <br /> <br />Brown, Ms. Hamilton, Mr. Lynch. Noes: Mr. Caravati. Abstaining: Mr. Schilling. Mr. <br />Schilling said he does not have enough information. <br /> <br /> WHEREAS, the City of Charlottesville and the County of Albemarle wish to <br />jointly acquire Parcels 108, 109, 111 and 159 of City Tax Map 53 from Hedgerow <br />Corporation; and <br /> <br /> WHEREAS, the City, the County, and Hedgerow Corporation have agreed to a <br />purchase price of $5,375,000 for all four parcels; and <br /> <br /> WHEREAS, the City and Albemarle County have agreed that the costs of <br />acquisition of the properties shall be shared equally, including the purchase price and any <br />closing costs; and <br /> <br /> WHEREAS, the City and County have entered into an Intergovernmental <br />Agreement defining the rights and responsibilities of each respective jurisdiction; and <br /> <br /> WHEREAS, the terms of the agreement with Hedgerow Corporation call for a <br />$200,000 earnest money deposit soon after the execution of the agreement; and <br /> <br /> WHEREAS, the balance of the purchase payment is due at closing, scheduled for <br />not later than April 29, 2005; <br /> <br /> BE IT RESOLVED by the Council for the City of Charlottesville, Virginia that <br />the sum of $100,000 is hereby appropriated from the Capital Fund account 26-020- <br />122050 (Contingency) to Capital Fund account 26-020-121118-55106 (Hedgerow <br />Properties Purchase) to fund the City's 50% share of an earnest money deposit; and <br /> <br /> BE IT FURTHER RESOLVED by the Council for the City of Charlottesville, <br />Virginia that the sum of $2,587,500, to be funded with proceeds to be received from the <br />sale of an upcoming 2004 bond issue, is hereby appropriated to Capital Fund account 26- <br />020-121118-55106 (Hedgerow Properties Purchase) to finance the City' s 50% share of <br />the acquisition of Parcels 108, 109, 111 and 159 of City Tax Map 53 from Hedgerow <br />Corporation. <br /> <br /> The Resolution Authorizing the Cost Sharing Agreement with Albemarle County <br />Re: Purchase of Hedgerow Properties was approved by the following vote. Ayes: Dr. <br />Brown, Mr. Caravati, Ms. Hamilton, Mr. Lynch. Noes: None. Abstaining: Mr. <br />Schilling. <br /> <br /> BE IT RESOLVED by the Council of the City of Charlottesville, Virginia that <br />this Council hereby authorizes the City Manager, or his designee, to sign the following <br />document, in form approved by the City Attorney: <br /> <br />City of Charlottesville/County of Albemarle Intergovernmental Agreement <br />regarding the joint purchase/ownership of real estate <br /> <br />PUBLIC HEARING/ORDINANCE: RAGGED MOUNTAIN TENANT LEASE <br /> <br /> The public hearing was opened, but as there were no speakers, the public hearing <br />was closed. <br /> <br /> Mr. Caravati made a motion to approve the ordinance and Mr. Lynch seconded <br />the motion. <br /> <br /> Mr. Schilling thanked staff for providing good supplemental information. He said <br />he is not sure the option to have the City Manager approve the lease renewal is <br />appropriate, and feels it should come before Council annually. Mr. Schilling made a <br />motion to amend the ordinance to indicate that, and Ms. Hamilton seconded the motion. <br /> <br /> Responding to a question from Dr. Brown, Mr. Brown said the City Manager's <br />could seek Council's guidance on the lease renewal. <br /> <br /> <br />