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WHEREAS, this Council has previously authorized the expenditure of <br />federal Starr Hill Revitalization Program funds for the commercial and Rental <br />Horsing Rehabilitation loan program; and <br />WHEREAS, this program will produce income from the repayments of the <br />original loans; and <br />WHEREAS, this Council considers it to have been the original intention <br />that said program was established as a "revolving" fund, in order that such <br />repayments might be used for the continuation of the program; now, therefore <br />be it <br />RESOLVED by the Council of the City of Charlottesville, Virginia, that: <br />1. Income received from the repayment of laons in the aforesaid <br />program shall be credited to the following designated account <br />in the Starr Hill Revitalization Program Fund: <br />Commercial/Rental Housing <br />Rehabilitation Program, <br />Year 2 21-71040 <br />Year 3 21-71060 <br />and may thereafter be expended for the same purposes and upon <br />the same terms and conditions as funds originally appropriated <br />or allocated to said program. <br />' 2. The Director of Finance and the Director of Planning and <br />Cor^,-Rmity Development are hereby authorized and directed to <br />take whatever steps may be necessary, consistent with applicable <br />federal regulations, to implement the intention of Council <br />expressed herein. <br />ADOPTED BY COUNCIL <br />APRIL 5, 1982 <br />Atteste: <br />Clerk of Counci <br />