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0 RESOLUTION <br />WHEREAS, the Council of the City of Charlottesville, Virginia <br />(the "Council"), has created the Industrial Development Authority <br />of the City of Charlottesville, Virginia (the "Authority"), pursuant <br />to the Virginia Industrial Development and Revenue Bond Act to <br />fulfill the purposes of such Act; and <br />WHEREAS, the Ordinance adopted by the Council on July 19, 1976, <br />as amended on February 3, 1980, which created the Authority (the <br />"Ordinance"), provides that the Authority shall not finance any <br />facility until the location and financing of such facility have <br />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 August , 1982 adopted an inducement <br />resolution agreeing to assist Gewinn Investors, a Virginia general <br />partnership (the "Developer"), in the financing of the expansion, <br />construction and equipping of an office building to be located in <br />the City of Charlottesville, Virginia (the "Project"), by the <br />issuance of the Authority's industrial development revenue bonds <br />• in an amount not to exceed $450,000; 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 818 East Jefferson <br />Street in the City of Charlottesville, Virgina. <br />NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF <br />CHARLOTTESVILLE, VIRGINIA: <br />1. It is hereby found and determined that the expansion, <br />construction and equipping of the Project will be in the public <br />interest and will promote the safety, health, welfare, convenience <br />or prosperity of the City of Charlottesville, Virginia, and its <br />citizens. <br />2. The Council hereby approves the location and financing of <br />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 />Adopted by Council <br />Atteste: August 16, 1982 <br />Clerk of Council <br />