2004-10-14 - Laserfiche WebLink

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NOTICE OF SPECIAL MEETING A SPECIAL MEETING OF THE CHARLOTTESVILLE CITY COUNCIL WILL BE HELD ON Thursday, October 14, 2004 AT 7:30 p.m. IN THE Basement Conference Room. THE PROPOSED AGENDA IS AS FOLLOWS: Work Session: Jefferson School BY ORDER OF THE MAYOR BY Jeanne Cox BASEMENT CONFERENCE ROOM - October 14, 2004 Council met in special session on this date with the following members present: Dr. Brown, Mr. Caravati, Ms. Hamilton, Mr. Lynch, Mr. Schilling. Mr. Dan Gecker, an attorney advising on historic tax credits, gave an overview of State and Federal tax credits, the Federal program providing 20% of qualified costs and the State program providing 25%. He said there is no question that Jefferson School will qualify, and, following a site tour, it was determined there will be no significant restriction of use of the building. Mr. Gecker said the State process involves syndication of credit which requires moving the ownership of the building to a limited partnership. He said this structure must be in place for five years at which point the City could buy out the interest or direct ownership elsewhere. He said Federal restrictions limit the end use of the building by the City to 35% of the square footage. He said the Carver Recreation Center would count toward this. He said that library use would be allowed. He said the process has been started to place the building on the historic registry. Mr. Lynch said a key issue is how to constitute the board of the limited partnership. Mr. Gecker said almost anyone can serve on the board as long as they are not directly selected by the Council and there is no formal vote by Council. Mr. Lynch asked if Council can set the mission statement and guidelines for what they would like to see happen. Mr. Gecker said yes, and Council can set deadlines to complete the work or the building converts back to the City. Mr. Gecker said people should be on the board who will make sure the project gets done, and the board should be in place during the planning and construction process. Responding to a question from Mr. Lynch, Mr. Gecker said as soon as end users are identified or there is a concept for end users, the board should be set up. Dr. Brown asked if additions are allowed to the building, and Mr. Gecker said they are permitted if they do not obscure significant features of the building. Responding to questions from Mr. Lynch, Mr. Gecker said the limited partnership will have legal, accounting, and insurance costs, as well as taxes and State franchise fees, approximately $20,000 annually. Dr. Brown asked if the City can have a role in choosing the architect and contractor, and Mr. Gecker said the City can select them. Mr. Gecker said there is no penalty if the tax credit process is begun and tax credits are not used. Council favored pursuing tax credits.