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• RESOLUTION <br />AUTHORIZING PURCHASE OF PROPERTY <br />(CITY TAX MAP 32, PARCEL 26) FROM <br />REGION TEN COMMUNITY SERVICES BOARD, INC. <br />(SRO FACILITY) <br />WHEREAS, the City desires to purchase, and Region Ten Community Services Board, <br />Inc. ("Region Ten") has agreed to sell to the City of Charlottesville, parcels of land with the <br />improvements thereon located at 401 4`h Street, N.W., in the City of Charlottesville, more <br />particularly identified as Parcel 26 on City Tax Map 32; and <br />WHEREAS, the subject property is shown on the attached 4 -page plat dated January 4, <br />2010, by Lincoln Surveying; and <br />WHEREAS, the City Assessor has valued the subject property at $1,840,500.00, and the <br />City and Region Ten have signed a Purchase Agreement evidencing the terms of the sale of the <br />subject property to the City for $1,550,000.00, which funds have been appropriated in the <br />FY2010 budget; and <br />WHEREAS, City staff have recommended the purchase of the subject property to allow <br />construction and operation of a Single Room Occupancy (SRO) facility to provide affordable <br />• housing units for homeless and very low-income persons; now, therefore <br />BE IT RESOLVED by the Council for the City of Charlottesville, Virginia, that the City <br />hereby authorizes the purchase of property at 401 4a' Street, N.W. from Region Ten Community <br />Services Board, Inc., as shown on the attached plat, the City Manager is hereby authorized to sign <br />a Purchase Agreement, in form approved by the City Attorney, for the purchase of the subject <br />property, and the City Attorney is hereby directed to take whatever steps are necessary to effect <br />the closing of the conveyance of the subject property to the City. <br />Approved by Council <br />March 1, 2010 <br />tA.Li <br />Cl of City Council <br />• <br />