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239 <br /> <br />highest elected governmental unit of the City; <br /> <br /> WHEREAS, the Authority has recommended that the Council <br />approve the issuance of the Bonds; and <br /> <br /> WHEREAS, a copy of the Authority,s resolution approving <br />the issuance of the Bonds, subject to the terms to be agreed <br />upon, and a certificate of the public hearing have been filed <br />with the Council. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE <br />CITY OF CHARLOTTESVILLE, VIRGINIA: <br /> <br /> 1. The Council approves the issuance of the Bonds by <br />the Authority, as required by Section 147(f) of the Code to <br />permit the Authority to undertake to finance the Projects. <br /> <br /> 2. The approval of the issuance of the Bonds does not <br />constitute an endorsement to a prospective purchaser of the <br />Bonds of the creditworthiness of the Projects or the <br />Authority. <br /> <br /> 3. Pursuant to the limitations contained in Temporary <br />Income Tax Regulations Sections 5f.103-2(f)(1), this <br />resolution shall remain in effect for a period of one year <br />from the date of its adoption. <br /> <br /> 4. This resolution shall take effect immediately upon <br />its adoption. <br /> <br />RESOLUTION: AUTHORIZING GRANT APPLICATION FROM SINGLE FAMILY <br />REHABILITATION & ENERGY CONSERVATION LOAN PROGRAM <br /> <br /> Mr. Chapman stated that the General Assembly has <br />appropriated funds under the Virginia Housing Partnership Act <br />to be allocated to localities to aid in increasing the annual <br />production of single family rehabilitations. The funds would <br />be used for low-interest loans to low-income families, with <br />the loan repaid with 4% interest, and energy conservation <br />loans which will be forgivable after five years. Mr. <br />Chapman stated that the City proposes to apply for a $500,000 <br />grant which would be added to the $277,000 currently <br />available for rehabilitations, mostly through the <br />Charlottesville Housing Improvement Program (CHIP). Mr. <br />Chapman stated that if the grant is received the existing <br />process would be modified to allow whatever work CHIP could <br />not complete to be done commercially. Mr. Chapman stated <br />that the program would continue to .be administered by the <br />Housing Authority. <br /> <br /> Responding to a question from Rev. Edwards, Mr. Chapman <br />stated that no additional Housing Authority staff would be <br />hired, but additional staff would be necessary at CHIP. <br /> <br /> On motion by Rev. Edwards, seconded by Mr. Towe, the <br />resolution authorizing the grant application for Single <br />Family Rehabilitation and Energy Conservation Loan Program <br />was unanimously approved by Council. <br /> <br /> BE IT RESOLVED by the Council of the City of <br /> Charlottesville, Virginia that the City Manager is hereby <br /> authorized to apply for and receive a grant from the Single <br /> Family Rehabilitation and Energy Conservation Loan Program <br /> through the Department of Housing and Community Development <br /> Commonwealth of Virginia. ' <br /> <br />RESOLUTION: AppROVING VISITORS CENTER CONTRACT <br /> <br /> Mr. Hendrix explained that the Albemarle County Board of <br />Supervisors modified the contract previously approved by the <br />City and the Chamber of Commerce to read that only those <br />funds generated by the Chamber of Commerce or private funds <br />could be used to attract conventions. Mr. Hendrix stated <br /> <br /> <br />