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E • AN ORDINANCE TO AUTHORIZE AN EXCHANGE OF PROPERTY AT RIVERVIEW PARK BETWEEN THE CITY AND RIVANNA COLLABORATIVE, LLC WHEREAS, the City of Charlottesville and Rivanna Collaborative, LLC ("Rivanna") wish to exchange parcels of property, shown on the attached drawing entitled "Proposed Landswap with Affordable Housing" and labeled "10,762 SF Land acquired from the City" and "3,898 SF Land deed to the City", dated August 1, 2004; and WHEREAS, Rivanna has proposed conveyance of 10,762 square feet of City owned land in the flood plain at Riverview Park to Rivanna in exchange for 3,898 square feet of land adjacent to Riverview Park owned by Rivanna; and WHEREAS, as further consideration for the land exchange, Rivanna has offered to: (1) Build two (2) affordable housing units, each approximately 1,000 — 1,200 square feet in area within the housing development known as Rivers Edge on Riverside Drive at a sale price of not more than $150,000; (2) Donate a percentage of its profit from the sale of the housing units in Rivers Edge to Habitat for Humanity; and (3) Work in cooperation with Habitat for Humanity to insure the construction and sale of the two affordable housing units to homeowners who can qualify for a primary mortgage of not more than $120,000; and (4) Construct and offer for sale the first of the two affordable housing units within three (3) years from the adoption of this ordinance; and WHEREAS, in accordance with Virginia Code §15.2-1800(B), a public hearing was held to give the public an opportunity to comment on the possible sale of said City land; and WHEREAS, the City Engineer, Director of Neighborhood Development Services, and Director of Parks & Recreation have reviewed the plan and have no objections to the exchange of property; now, therefore BE IT ORDAINED by the Council of the City of Charlottesville, Virginia that the City Manager is hereby authorized to execute a sales/purchase agreement incorporating the above -referenced terms, and the Mayor is authorized to execute a deed of exchange, in form approved by the City Attorney, conveying 10,762 square feet of land in Riverview Park to Rivanna Collaborative, LLC, and conveying 3,898 square feet of land adjacent to Riverview Park to the City. The proposal by Rivanna to partner with Habitat for Humanity to construct and sell two affordable housing units, as described herein, within the development is hereby accepted by the City as further consideration for the exchange of properties, and such affordable housing requirement shall survive the closing of the land exchange. The City Attorney is hereby authorized to take whatever steps are necessary to effect the closing of said property exchange.. • Approved by Council L September 20, 2004 C l.y of City Council