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RESOLUTION <br />AUTHORIZING MAYOR TO ENTER <br />INTO A COOPERATION AGREEMENT WITH <br />CHARLOTTESVILLE REDEVELOPMENT AND HOUSING AUTHORITY <br />FOR THE VINEGAR HILL HOTEL CONFERENCE CENTER PROJECT <br />WHEREAS, the Charlottesville Redevelopment and Housing <br />Authority (Authority), with the support of Council of the City <br />of Charlottesville (Council), has devoted substantial time and <br />money toward the construction and development of a hotel/conference <br />center complex on the Vinegar Hill Urban Renewal Site in downtown <br />Charlottesville for many years; <br />WHEREAS, Council has determined that substantial public <br />revenues and other benefits would be derived from such a hotel/ <br />conference center project; <br />WHEREAS, the construction of a public conference center in <br />connection with the hotel would promote trade, commerce, tourism <br />and the general economic objectives of the Redevelopment Plan <br />for the Vinegar Hill Redevelopment Project previously approved <br />by Council; <br />• WHEREAS, a need for additional public parking spaces exists <br />in downtown Charlottesville, and such parking spaces would also <br />benefit the general economy of the City and the convenience of <br />the public as well as serving the needs of the conference center, <br />the federal office building on the Vinegar Hill site and other <br />existing and future businesses; <br />WHEREAS, Authority has reached tentative agreement with <br />Lawler -Wood, Inc. for development of a hotel, conference center <br />and parking facilities; and <br />WHEREAS, Authority is empowered under the Virginia Housing <br />Authorities Law to assist with the reconstruction of redevelopment <br />projects by making loans or grants received from any public or <br />private source, for the purpose of facilitating the construction <br />of housing or other improvements constructed or to be constructed <br />on land situated within the boundaries of a redevelopment project; <br />NOW, THEREFORE, BE IT <br />RESOLVED BY THIS COUNCIL, <br />1. That the Mayor for and on behalf of the City of Charlottes- <br />ville, be and is hereby authorized and directed to execute a <br />• cooperation agreement with Authority, to be dated as of October 27, <br />1983 (Cooperation Agreement), for the purpose of carrying out the <br />