Laserfiche WebLink
0 <br />• <br />APPROPRIATION <br />LOAN TO CHARLOTTESVILLE INDUSTRIAL DEVELOPMENT <br />AUTHORITY FOR PORTION OF PURCHASE PRICE FOR CSX <br />PROPERTY ($283,000) <br />and <br />AN AMENDMENT TO THE CAPITAL IMPROVEMENTS BUDGET <br />BE IT ORDAINED by the Council of the <br />Charlottesville, Virginia, as follows: <br />City of <br />(1) the sum of $283,000 is hereby appropriated to fund a short <br />term loan to the Charlottesville Industrial Development Authority <br />(the "Authority") to use in its purchase of approximately 16 <br />acres of land from CSX Transportation, Inc. <br />(2) This <br />amount shall <br />be credited <br />to the City by <br />the Authority <br />when the <br />City purchases <br />a portion <br />of the aforesaid <br />CSX property <br />from the <br />Authority to <br />be used as <br />a public parking <br />lot. If the <br />purchase <br />price due the <br />Authority for <br />the parking lot <br />is less than <br />this $283,000 loan, the <br />difference <br />shall be repaid to <br />the City at <br />closing. <br />(3) The 1987-88 Capital Improvements Budget is hereby amended to <br />reflect the foregoing appropriation and loan. Set forth below <br />are the capital project categories, as amended: <br />Education .............$4,850,595 <br />Public Safety......... 300,000 <br />Parks and Recreation.. 1,075,731 <br />Transportation and <br />Acess............ 3,098,000 <br />Utilities and Service. 280,200 <br />General Government and <br />Service..... 3,825,000 <br />$13,429,526 <br />Approved by Council <br />June 20, 1988 <br />• <br />C rk of Council <br />88-4-15 <br />