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130 locality has created an industrial development authority, no industrial development authority created by a second locality may finance a facility located in the first locality unless the governing body of such first locality concurs with the inducement created by the second locality; WHEREAS, the Project is located in the City of Charlottesville, Virginia (the "City") and the City Council of the City of Charlottesville, Virginia (the "Council") constitutes the highest elected governmental unit of the City; WHEREAS, the Authority has recommended that the Council approve the issuance of the Bonds; and WHEREAS, a copy of the Authority's resolution approving the issuance of the Bonds, subject to the terms to be agreed upon, a certificate of the public hearing and a Fiscal Impact Statement have been filed with the Council. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF CHARLOTTESVILLE, VIRGINIA: 1. The Council approves the issuance of the Bonds by the Fluvanna Authority for the benefit of the Company, as required by Section 147(0 of the code and Section 15.1-1378.1 of the Code of Virginia of 1950, as amended CVirginia Code") to permit the Authority to assist in the financing. 2. The Council concurs with the resolution adopted by the Industrial Development Authority of Fluvanna County, Virginia, and approves the issuance of the Bonds by the Industrial Development Authority of Fluvanna County, Virginia, for the benefit of the Company as required by Section 15.1-1378 of the Act. 3. The approval of the issuance of the Bonds does not constitute an endorsement to a prospective purchaser of the Bonds of the creditworthiness of the Prqiect or the Company. 4. Pursuant to the limitations contained in Temporary Income Tax Regulations Section 5f. 103-2(0(1), this resolution shall remain in effect for a period of one year from the date of its adoption. 5. This resolution shall take effect immediately upon its adopted. REPORT: REPORT ON CHILD CARE - CHARLOTTESYqLLE/ALBEMARLE CHILDREN AND YOUTH COMMISSION Dr. Charles Gleason, 1831 Yorktown Drive, and a member of the Charlottesville/ Albemarle Children and Youth Commission (CACY), highlighted the Commission's Child Care Report, an initiative begun by the Commission in 1993. The project objections were: 1) To evaluate the current impact on children of care provided in the city and county in terms of quality, availability and affordability, through a study which would include all ages of children from infancy through middle school years; 2) To draft a plan for bringing together citizens, businesses and governing bodies in a concerted effort to make Charlottesville and Albemarle known as a community where good, affordable Child care is available for all children; and 3) To make specific recommendations to the charlottesville City Council and the Albemarle County Board of Supervisors designed to create a new vision for caring for children. Dr. Gleason said a major dilemma is funding, and the report recommends that new financing strategies should be developed, such as the Corporate Champions Initiative in Charlotte. Dr. Gleason said he feels that the report is especially timely because of its application to welfare reform. Mr. Malcolm Cole, t 106 Park Street, and a member of the Child Care Action subcommittee, said that there are large socio-economic variations in the City and a wide range of providers, and while the community is fortunate to have such resources, they need to be used more efficiently.