Laserfiche WebLink
RESOLUTION <br />• WHEREAS, the Council of the City of Charlottesville, <br />Virginia (the "Council"), has created the Industrial Develop- <br />ment Authority of the City of Charlottesville, Virginia (the <br />"Authority"), pursuant to the Virginia Industrial Development <br />and Revenue Bond Act to fulfill the purposes of such Act; and <br />WHEREAS, the Ordinance adopted by the Council on July 19, <br />1976, as amended on February 3, 1980, which created the Authority <br />(the "Ordinance"), provides that the Authority shall not finance <br />any facility until the location and financing of such facility <br />have been approved by the Council; and <br />WHEREAS, Section 5 of the Ordinance sets forth certain <br />standards to be considered by the Authority and the Council in <br />determining the nature and location of facilities to be financed <br />by the Authority; and <br />WHEREAS, the Authority on , 1982 adopted an <br />inducement resolution agreeing to assist Michael Simpson and <br />C. Bernard Martin, trading as Simpson/Martin, or an entity to <br />be formed by them (the "Developer"), in the financing of the <br />acquisition, renovation, construction and equipping of a retail <br />sales, general commercial and office facility to be located in <br />the City of Charlottesville, Virginia (the "Project"), by the <br />issuance of the Authority's industrial development revenue <br />bonds in an amount not to exceed $300,000; and <br />WHEREAS, preliminary plans for the Project and the financing <br />have been described to the Council in a presentation by the <br />Developer; and <br />WHEREAS, the Project will be located at 105 West Main Street <br />in the City of Charlottesville, Virginia. <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY <br />OF CHARLOTTESVILLE, VIRGINIA: <br />1. It is hereby found and determined that the acquisition, <br />renovation, construction and equipping of the Project will be in <br />the public interest and will promote the safety, health, welfare, <br />convenience or prosperity of the City of Charlottesville, <br />Virginia, and its citizens. <br />2. The Council hereby approves the location and financing <br />of the Project. <br />3. It is hereby found and determined that the Project meets <br />the criteria set forth in Section 5 of the Ordinance. <br />4. This Resolution shall take effect immediately. <br />Attestei Adopted by Council <br />July 6, 1982 <br />