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RESOLUTION WHEREAS, the Council of the City of Charlottesville, Virginia, (the "Council"), has created the Industrial Develop- ment Authority of the City of Charlottesville, Virginia (the "Authority"), pursuant to the Virginia Industrial Development and Revenue Bond Act to fulfill the purposes of such Act; and WHEREAS, the Ordinance adopted by the Council on July 19, 1976, as amended on February 3, 1980, which created the Authority (the "Ordinance"), provides that the Authority shall not finance any facility until the location and financing of such facility have.been approved by the Council; and WHEREAS, Section 5 of the Ordinance sets forth certain standards to be considered by the Authority and the Council in determining the nature and location of facilities to be financed by the Authority; and WHEREAS, the Authority on March 10, 1981 adopted an induce- ment resolution agreeing to assist Alexander N. and Beverly W. Breckinridge ("Breckinridge") in the financing of the acquisition, construction and equipping of a warehouse and workshop facility, including sales and office facilities incidental thereto to be located in the City of Charlottesville, Virginia (the "Project"), which Project shall be leased to Virginia Glass Company, Inc., by the issuance of the'Authority's industrial development revenue bonds in an amount estimated not to exceed $350,000; and WHEREAS, preliminary plans for the Project and the financing have been described to the Council in a presentation by Breckinridge; and WHEREAS, the Project will be located on Parcel 10-Z1 of the Garrett Street Project, being certain real estate located at the corner of Garrett and Gleason Streets in the City of Charlottes- ville, Virginia. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CHARLOTTESVILLE, VIRGINIA: 1. It is hereby found and determined that the acquisition, construction and equipping of the Project will be in the public interest and will promote the safety, health, welfare, con- venience or prosperity of the City of Charlottesville, Virginia, and its citizens. 2. The Council hereby approves the location and financing of the Project.