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0 <br />• <br />U <br />A RESOLUTION <br />AUTHORIZING THE CITY MANAGER <br />TO OFFER -THE MIDWAY SCHOOL SITE.' <br />FOR SALE TO THE <br />CHARLOTTESVILLE HOUSING FOUNDATION. <br />WHEREAS, this Council has previously'offered the property at <br />the intersection of Ridge and Main, Streets known as the Midway School <br />Site for sale to Messrs. Miller and Steingold of Norfolk, Virginia for <br />construction of a high-rise apartment building for the elderly; and <br />- <br />WHEREAS, that offer has been rejected as the result of the <br />inability of the offerees to obtain HUD financing for such project which <br />financing is currently available only for non-profit organizations eligible <br />under the Section 202 Financing Program; and <br />WHEREAS, the Charlottesville Housing Foundation has indicated <br />to the Council an interest in attempting to qualify for such financing <br />and to construct such high-rise for the elderly on the Midway School <br />Site; now, therefore, be it <br />RESOLVED by the Council of the City of Charlottesville that the <br />-City Manager is hereby authorized and directed to offer the Midway <br />School Site to the Charlottesville Housing Foundation for a purchase <br />price of $275,000 and to make such offer contingent upon the Foundation's <br />agreement to use the property,for construction.of a high-rise apartment <br />building for the elderly containing not more than 120 dwelling units, :and <br />further to make such offer contingent upon the approval by the City <br />Council of the design for such apartment building before closing the sale <br />of such property. <br />Copy Teste: <br />er <br />Adopted by the Council <br />May 8, 1978 <br />