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• CITY COUNCIL <br />WHEREAS, the Charlottesville Redevelopment and Housing <br />Authority (the "Authority") has reached a preliminary agreement <br />with Jefferson Mall Limited Partnership, a Virginia limited part- <br />nership ("Jefferson"), with respect to the sale and development <br />of those certain parcels of land situated in the Vinegar Hill <br />Redevelopment Area of the City which are designated as T.M. 28, <br />Parcels 1, 88 and 89; and <br />WHEREAS, Jefferson is the optionee of an option to <br />acquire property known as the Thomas Tire Center property, which <br />is designated as T.M. 2-T , Parcel; and <br />WHEREAS, incidental to its plans to develop such parcels <br />owned by the Authority, Jefferson would like to acquire the Thom- <br />as Tire Center property and to construct a parking facility <br />thereon; and <br />WHEREAS, the Authority believes that the construction of <br />such a parking facility will be instrumental in furthering the <br />redevelopment of the Vinegar Hill Area, thereby clearing the <br />blight and preventing its recurrence in such Redevelopment Area; <br />• and <br />WHEREAS, City Council believes that such efforts taken <br />by the Authority and by Jefferson to redevelop the Vinegar Hill <br />Area, as outlined in that certain Preliminary Development <br />agreement dated August 1, 1986 should be encouraged and Council <br />wishes to lend its support to the redevelopment efforts; and <br />WHEREAS, it was determined that the City could facili- <br />tate such redevelopment efforts by making a loan of $1,140,000 to <br />Jefferson to be used solely for the acquisition of the Thomas <br />Tire Center property and for the construction thereon of a <br />parking facility; and <br />WHEREAS, D. Cole Hendrix, City Manager, has applied, on <br />behalf of the City, for an Urban Redevelopment Action Grant <br />("UDAG") from the Secretary of Housing and Urban Development of <br />the United States in the amount of $1,140,000. <br />NOW, THEREFORE, be it RESOLVED, that the City Council <br />hereby ratifies, confirms and approves the action of D. Cole <br />Hendrix, City Manager, in making the application for an Urban <br />Development Action Grant in the amount of $1,140,000; and <br />n <br />LJ <br />