2002-03-04 - Laserfiche WebLink

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273 Responding to a question from Mr. Lynch, Mr. Huja said that the Prospect project can be done even if$500,000 is allocated for this project, but noted that after two years some choices will have to be made. Mr. Caravati noted that there will be a leverage of 95% on the City's funds. Mr. Huja proposed that the size ofthe revitalization area be reduced to encompass just the Garrett Square block as there has been no intensive involvement by residents in the area. Mr. Armstrong said that VHDA likes to know that the renovation will have a positive impact on the surrounding area. Mr. Craig Brown, City Attorney, provided a resolution designating only the Garrett Square block as a revitalization area. Mr. Cox made a motion to approve the resolution designating Garrett Square as a revitalization area. Mr. Lynch asked if there are any other implications of designating a revitalization area, and Mr. Huja said none that he is aware of. Mr. Cox said he does not think the revitalization area should include areas outside of the Garrett Square block without notification to the residents. Mr. Toscano seconded the motion and the resolution designating Garrett Square a revitalization area was approved by the following vote. Ayes: Mr. Caravati, Mr. Cox, Mr. Lynch, Ms. Richards, Mr. Toscano. Noes: None. WltEREAS, the City of Charlottesville recognizes the area of the city located between Garrett Street as the northern boundary, Sixth Street as the eastern boundary, Monticello Avenue as the southern boundary, and Second Street as the western boundary as an area of needed redevelopment; and WHEREAS, the City of Charlottesville recognizes that the census track data associated with this area shows that the median household income levels range from $12,602 to $22,946; and WltEREAS, the City of Charlottesville recognizes that these income levels are significantly lower (52 to 95%) than the city household income average of $24,190; and WltEREAS, the City of Charlottesville recognizes, based on extensive consulting studies, that this area has significant redevelopment opportunities that would benefit the surrounding neighborhoods, downtown area and current residents; therefore, BE IT RESOLVED, that the City of Charlottesville declares the area of the city as described above a revitalization area for the betterment of the community. On motion by Mr. Toscano, seconded by Mr. Cox, Council authorized the City Manager to send a letter of support for PHA's application for tax credits by the following vote. Ayes: Mr. Caravati, Mr. Cox, Mr. Lynch, Ms. Richards, Mr. Toscano. Noes: None. Ms. Richards made a motion to approve the resolution committing $500,000 to PHA and Mr. Cox seconded the motion. Mr. Toscano said he has the same concerns as Mr. Lynch about tying up almost ail future housing money, but would support providing $300,000.