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I <br />• AN ORDINANCE <br />AUTHORIZING THE MAYOR <br />TO SIGN A LEASE FOR A TERM OF <br />FORTY YEARS OF CITY PROPERTY <br />LOCATED AT 742 NALLE STREET. <br />WHEREAS, the proposed lease of the lot or parcel of land belonging <br />to the City located at 742 Nalle Street for use in the City's Low Income <br />Housing Land Lease Program has been duly advertised in the Daily Progress <br />once a week for four successive weeks as required by §15.1-308 of the <br />Code of Virginia; and <br />WHEREAS, the Charlottesville Housing Improvement Program, Inc. <br />has submitted the sole bid for said Lease, and acceptance of said bid has <br />been determined by this Council to be in the public interest; now, therefore, <br />BE IT ORDAINED by the Council of the City of Charlottesville: <br />That the Mayor be and hereby is authorized to execute on behalf of <br />the City documents in form approved by the City Attorney conveying to the <br />• Charlottesville Housing Improvement Program, Inc. , a leasehold interest <br />for a term of 40 years in the City property located at 742 Nalle Street, <br />subject to the terms and conditions heretofore duly advertised for the Low <br />Income Housing Land Lease Program. One executed copy of such documents <br />shall be kept on file with the minutes of the Council meeting at which this <br />ordinance is finally adopted. <br />U <br />