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AN ORDINANCE <br />• TO AUTHORIZE CONVEYANCE <br />OF CITY -OWNED PROPERTY ON DOUGLAS AVENUE <br />TO BELMONT COMMONS, L.L.C. <br />WHEREAS, Frank Stoner and Robert Hauser, d/b/a Belmont Commons, L.L.C., <br />hereinafter sometimes referred to as 'Belmont Commons", wish to acquire five (5) parcels of <br />City -owned property (the "Property") between Douglas Avenue and the CSX railroad tracks, as <br />shown on the attached sketch labeled Exhibit A, for the purpose of developing a Planned Unit <br />Development (PUD) of residential housing; and <br />WHEREAS, in accordance with Virginia Code §15.2-1800(B), a public hearing was held <br />to give the public an opportunity to comment on the possible sale of said City land; and <br />WHEREAS, the City Assessor has appraised the fair market value of the Property at <br />$215,803.00, and Belmont Commons has agreed to pay that amount as the purchase price; and <br />WHEREAS, the City Engineer and the Director of Neighborhood Planning and <br />Development Services have reviewed the plan and have no objections to the sale; now, therefore <br />BE IT ORDAINED by the Council of the City of Charlottesville, Virginia that the City <br />Manager is hereby authorized to execute a contract, in substantially the same form as attached <br />hereto, and the Mayor is hereby authorized to execute a special warranty deed, both in form <br />approved by the City Attorney, conveying the above -referenced Property for the purchase price <br />of $215,803.00. The City Attorney is hereby authorized to take whatever steps are necessary to <br />effect the closing of said property conveyance. <br />Approved by Council <br />November 20, 2000 <br />Clerrk of City Council <br />0 <br />