1986-12-09 - Laserfiche WebLink

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9O that will be least likely to ~roduce pollution or adverse environmental consequences an~d that is least likely to necessitate the expenditures of additional public funds for the provisions of essential or customary public services; and WHEREAS, Jefferson National Bank has offered to finance certain of the proposed transactions, as set forth in a commitment letter dated December 9, 1986. NOW, THEREFORE, BE IT RESOLVED that the City Council hereby ratifies, approves and adopts the findings of the Authority and hereby authorizes the Authority to enter into each of the Purchase Agreement dated December 9, 1986 between Carlton Limited Partnership and the Authority, the Development Agreement dated December 9, 1986 between the Authority and Jefferson National Bank and the Land Purchase and Development Agreement dated December 9, 1986 between the Authority and F. Warren Martin and Jack M. Horn, and the loan transactions set forth in said loan commitment, subject to such revisions in any or all of such agreements as may hereafter be approved by the Chairman of the Authority and by the Authority's special counsel, Paxson, Smith, Gilliam & Scott; and RESOLVED, that a true copy of each of such agreements, as executed by or on behalf of each of the parties thereto, be appended to these resolutions. STAFF REPORT: HIGHWAY PROJECTS Mr. Hendrix reviewed the highway projects that had been completed and proposed for the area as a result of a 1965 study by the State Highway Department. Another study was completed in 1975 which was the basis for additional projects, including Long Street, Meadowcreek Parkway, improvements to Route 29 North, and a Western Bypass. Mr. Hendrix stated that the traffic counts on both Long Street and Route 29 North have far exceeded the projections of the 1975 study. Mr. Hendrix stated that a Western Bypass and the Meadowcreek Parkway were considered as relief facilities for Route 29 North, but the County has consistently rejected a Western Bypass and without it, the affect on the City due to building the Meadowcreek Parkway is unclear. Mr. Hendrix stated that the State Highway Department has proposed to ex~and Route 29 North to eight lanes between Hydraulic and Rio Roads. Mr. Timothy Lindstrom, a member of the Albemarle County Board of SUpervisors, presented an alternative to the eight laning of Route 29 North, which included a four-lane express lane in the center, with two-way lanes on either side, most of which could be accommodated within the existing right-of-way. Mr. Buck questioned whether one north-south corridor would be sufficient to handle the growth in the Charlottesville-Albemarle community. Mr. Hendrix stated that the affect of the increased traffic on Main Street as a result of the Meadowcreek Parkway needed to be considered. Mr. Buck stated that he felt an additional study of the traffic needs of the area was advisable due to the fact that present data are out of date and because the projects are more imminent due to the availability of funds.