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0 <br />• <br />Resolution <br />WHEREAS, the City of Charlottesville has been asked to participate in an <br />application for a Brownfields grant ($2,000,000) and a HUD Section 108 Loan <br />($5,500,000) to assist in the environmental remediation of property off Water Street <br />Extended (Coal Tower site); and <br />WHEREAS, the loan application deadline is December 28, 2007, and the City is <br />required to be the applicant for Section 108 Loan; <br />NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of <br />Charlottesville agrees to make application for a Section 108 Loan for the Coal Tower <br />project, and if approved, consider at a future meeting whether it is in the best interest of <br />the City to participate in this project. <br />Approved by Council <br />December 17, 2007 <br />Cle of City Council"' ' I <br />