|
e. APPROPRIATION: $200,000 - Reprogramming HOME Program Income
<br /> (2nd reading)
<br />
<br /> WHEREAS, the City has received HOME program income that has currently not
<br />been appropriated; and
<br />
<br />WHEREAS, these funds need to be spent in a timely manner; and
<br />
<br /> WHEREAS, the Task Force has met to review proposals and provide funding
<br />recommendations, therefore,
<br />
<br /> BE IT RESOLVED by the Council of the City of Charlottesville, Virginia that
<br />appropriations made to the following expenditure accounts in the CDBG fund are hereby
<br />reduced or increased by the respective amounts shown, and the balance accumulated in
<br />the Fund as a result of these adjustments is hereby reappropriated to the respective
<br />accounts shown as follows:
<br />
<br />Program Account Code Purpose Proposed Proposed Proposed
<br />Year Revised Revised Revised
<br /> Reduction Addition Appropriation
<br /> 11-042-093652 HOME Program $200,000
<br /> Income
<br />04-05 11-042-09 Habitat Property $38,000 $38,000
<br /> Acquisition
<br />04-05 11-042-09 Habitat Paton Street $81,000 $81,000
<br /> Infrastructure
<br />04-05 11-042-09 Habitat Housing $81,000 $81,000
<br /> Construction
<br />
<br />f. APPROPRIATION: $27,782.27 - Two for Life (State Funding) (carried over)
<br />
<br />g. APPROPRIATION: $1,700 - Therapeutic Recreation Program Donation
<br /> (carried over)
<br />
<br />h. RESOLUTION:
<br />
<br />Authorizing Refunding of 1994 Industrial Development
<br />Bonds for Kroger
<br />
<br /> WHEREAS, the Industrial Development Authority of City of Charlottesville, Virginia (the
<br />"Authority"), has considered the application of The Kroger Co., an Ohio corporation (the "Applicant") for
<br />the issuance of the Authority's industrial development revenue refunding bonds in an amount not to
<br />exceed $3,250,000 (the "Bonds") to refund the Authority's outstanding $3,250,000 Industrial
<br />Development Revenue Refunding Bonds (The Kroger Co.), Series 1994, dated as of April 1, 1994 (the
<br />"Prior Bonds"), the proceeds of which refunded an earlier issue of bonds, which were used to assist in the
<br />financing of a commercial grocery store facility (the "Project"), and has held a public hearing on said
<br />application on September 14, 2004; and
<br />
<br /> WHEREAS, the refunding of the Prior Bonds will assist the applicant in
<br />maintaining its grocery store located on the east side of U.S. Rt. 29 and the south side of
<br />Hydraulic Road (Rugby Road extended) in the City of Charlottesville, Virginia; and
<br />
<br /> WHEREAS, the Authority has requested the City Council (the "Council") of City of
<br />Charlottesville, Virginia to approve the issuance of the Bonds to comply with Section 147(f) of the
<br />Internal Revenue Code of 1986, as amended (the "Code"), and Section 15.2-4906 of the Code of Virginia,
<br />as amended (the "Act"); and
<br />
<br /> WHEREAS, the Authority intends to issue its Bonds on behalf of City of Charlottesville,
<br />Virginia, the Project is located in City of Charlottesville, Virginia, and the Council constitutes the elected
<br />legislative body of the City of Charlottesville, Virginia; and
<br />
<br /> WHEREAS, a copy of the Authority's resolution approving the issuance of the Bonds, adopted
<br />on September 14, 2004, subject to terms to be agreed upon, a certificate of the public hearing, including a
<br />reasonably detailed summary of any comments expressed at the hearing, and a fiscal impact statement
<br />
<br />
<br />
|