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• APPROPRIATION <br />Loan/Transfer of Funds for Renovation of Market Street Garage <br />$1,962,900 <br />BE IT RESOLVED by the Council of the City of Charlottesville, Virginia that <br />the sum of $1,887,900 is hereby appropriated to the Capital Projects Fund to the Market <br />Street Garage account 26-181-121112-50111 along with $75,000 in existing funds in that <br />account ($1,962,900 total) for the purpose of renovating the Market Street Garage <br />including expansion of the retail space; mechanical, electrical, and plumbing <br />improvements; structural rehabilitation; and repair and upfit of the elevators. <br />This appropriation includes a $1,000,000 loan from the Gas Fund to the Capital <br />Fund. This loan is conditioned upon full repayment of the principal and interest of 5'/2% <br />to the Gas Fund on or before June 30, 2006. The Finance Director is hereby authorized <br />to take whatever steps are necessary to complete this transaction. This appropriation also <br />includes the transfer of $558,000 from the Market Street Garage Retail Space account 26- <br />020-091203 to account 26-181-121112-50111. This appropriation is also conditioned <br />• upon the receipt of $329,900 in anticipated future parking revenues in account 26-181- <br />121112. <br />Approved by Council <br />May 21, 2001 <br />,Q eAIL <br />le k of City Council <br />0 <br />