My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
2008_Resolutions
Charlottesville
>
City Council
>
Ords Res App
>
Resolutions 1976-2009
>
2008_Resolutions
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
11/22/2024 3:38:16 PM
Creation date
3/30/2015 2:48:01 PM
Metadata
Fields
Template:
City Attorney
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
133
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
the Authority pursuant to this Agreement shall be used for no purpose other than that <br />specified herein. • <br />2. From the funding made available to it pursuant to this Agreement the <br />Authority shall, from time to time, make payments to the Jefferson School Community <br />Partnership, L.L.L.P. to pay the reasonable and necessary expenses incurred by the <br />Partnership in the acquisition and redevelopment of the Jefferson School property under <br />the Option and Purchase Agreement. The Authority shall have no obligation to make any <br />payments to the Partnership other than with funds provided to it by the City under this <br />Agreement. <br />3. As used herein, the term "reasonable and necessary expenses" of the <br />Partnership include, but are not limited to: <br />(a) the cost of acquisition of all lands, structures, rights-of-way, franchises, <br />easements and other property rights and interests associated with the Jefferson <br />School property; <br />(b) the cost of construction, including the cost of all labor, materials, machinery <br />and equipment; financing charges and interest on all bonds and loans prior to <br />and during construction; <br />(c) the cost of architectural, engineering, financial and legal services, plans, <br />specifications, studies, surveys, estimates of cost and of revenues, and other <br />expenses necessary or incident to determining the feasibility or practicability <br />of the redevelopment of the Jefferson School property; • <br />(d) the costs related to obtaining the necessary zoning and land use approvals for <br />the desired use of the property; <br />(e) the costs related to the financing of the redevelopment of the property through <br />federal and or state historic tax credits and other conventional financing; <br />(f) the administrative expenses, provisions for working capital, reserves for <br />interest and for extensions, enlargements, additions and improvements; <br />(g) the employment of personnel to oversee and manage the redevelopment of the <br />property, and to market and obtain leases for the renovated spaces within the <br />property; <br />(h) such other expenses as may be necessary or incident to the redevelopment of <br />the Jefferson School property and the placing of the property in operation. <br />4. The Authority and Jefferson School Community Partnership, L.L.L.P. shall <br />enter into an agreement that provides the terms and conditions under which funding will <br />be made available to the Partnership. At a minimum, the Agreement shall provide that <br />funding requests from the Partnership to the Authority shall be in writing, shall be <br />documented with copies of bills, invoices or charges for the expenses sought to be paid, <br />and shall include a statement signed by an authorized representative of the Partnership <br />that certifies that the funding sought is for reasonable and necessary expenses actually <br />incurred by the Partnership in furtherance of its redevelopment of the Jefferson School <br />property or the Partnership's contractual obligations under the Option and Purchase <br />Agreement with the City, and which are eligible for funding pursuant to the terms of this • <br />
The URL can be used to link to this page
Your browser does not support the video tag.