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�J <br />RESOLUTION <br />OF THE CITY COUNCIL <br />OF THE CITY OF CHARLOTTESVILLE, VIRGINIA <br />WHEREAS, the Charlottesville Redevelopment and <br />Housing Authority (the "Authority") has considered the <br />application of Phi Gamma Delta Renovation Associates, a <br />Virginia limited partnership (the "Applicant") Madison <br />Hall, University Avenue, Charlottesville, Virginia 22906- <br />9012, for the issuance of the Authority's bonds in the <br />maximum amount not to exceed $250,000 (the "Bonds") to <br />assist in the financing of the Applicant's renovation of <br />a 7,000 square foot housing facility to be used as a <br />• fraternity house (the "Facility") to be leased in part <br />to Omicron Chapter House Society and in part to indi- <br />viduals. The Facility will be located at 128 Madison <br />Lane in the Central City Development District in the <br />City of Charlottesville, Virginia (the "City"). The <br />Authority held a public hearing on this matter on July <br />22, 1985, a date within 60 days prior to the date of <br />adoption of this resolution; <br />WHEREAS, the Authority has requested the City <br />Council of the City of Charlottesville, Virginia (the <br />"Council") to approve the issuance of the Bonds to comply <br />with Section 103(k) of the Internal Revenue Code of 1954, <br />• <br />as <br />amended <br />(the <br />"Code"), and Paragraph <br />2 of Chapter <br />514 <br />of <br />the Acts <br />of <br />the General Assembly of <br />Virginia of <br />1983; <br />