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168
<br />
<br />RESOLUTION:
<br />APPROVING
<br />INDUSTRIAL
<br />DEVELOPMENT
<br />BOND
<br />FINANCING FOR
<br />CHARLOTTESVILLE
<br />PROPERTIES, LTD.
<br />#1
<br />
<br />RESOLUTION:
<br />APPROVING INDUS-
<br />TRIAL DEVELOPMENT
<br />BOND FINANCING
<br />FOR CHARLOTTES-
<br />VILLE PROPERTIES,
<br />LTD. #2
<br />
<br />Does not distribute any part of its net earnings to any
<br />individual. Ail funds come from contributions, earnings
<br />on investment and state grants;
<br />
<br />Provides services for the common good of the public;
<br />
<br />6. Does not carry on any political activity;
<br />
<br />Has no rule, regulation, policy or practice discriminating
<br />on the basis of religious conviction, race, c~lor, sex or
<br />national origin;
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City df
<br />Charlottesville that the Council hereby endorses, supports and
<br />approves lhe adoption of an amendment to Title 58 of the Code of
<br />Virginia exempting property of United Way Thomas Jefferson Area
<br />located in the City of Charlottesville from state and local taxation;
<br />and
<br />
<br /> BE IT FURTHER RESOLVED that the Clerk of the Council is directed
<br />to convey certified copies of this resolution to the members of the
<br />General Assembly representing the City.
<br />
<br />On motion by Mrs. Gleason, seconded by Dr. Hall, the following
<br />
<br />resolution was adopted by the following vote, Mr. Conover abstaining.
<br />
<br />Ayes: Mr. Buck, Mrs. Gleason, Dr. Gunter, Dr. Hall. Noes: None.
<br />
<br /> WHEREAS, the Council of the City of Charlottesville, Virginia
<br />(the "Council") has created the Industrial Development Authority of
<br />the City of Charlottesville, Virginia (the "Authority") pursuant to the
<br />Virginia Industrial Development and Revenue Bond Act to fulfill the
<br />purposes of such Act; and
<br />
<br /> WHEREAS, the Ordinance adopted by the Council on July 19, 1976,
<br />as amended on February 3, 1980, which created the Authority (the
<br />"Ordinance"), provides that the Authority shall not finance any facility
<br />until the location and financing of such facility have been approved by
<br />the Council; and
<br />
<br /> WHEREAS, Section 5 of the Ordinance sets forth certain standards
<br />to be considered by the Authority and the Council in determining the
<br />nature and location of facilities to be financed by the Authority; and
<br />
<br /> WHEREAS, the Authority on December 7, 1982 adopted an inducement
<br />resolution agreeing to assist F. Rodney Lawler acting on behalf of
<br />himself or an entity to be formed by him to be known as Charlottesville
<br />Properties, Ltd. No. 1, a Virginia limited partnership (the "Developer")
<br />in the financing of the acquisition, construction and equipping of a
<br />hotel to be located in the City of Charlottes'ville, Virginia (the "Project")
<br />by the issuance of the Authority's industrial development revenue bonds in
<br />the amount estimated not to exceed $9,000,000; and
<br />
<br /> WHEREAS, preliminary plans for the Project and the financing have
<br />been described to the Council in a presentation by representatives of
<br />the Developer; and
<br />
<br /> WHEREAS, the Project will be located in the Vinegar Hill redevelop-
<br />ment area in the City of Charlottesville, Virginia;
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
<br />CHARLOTTESVILLE, VIRGINIA:
<br />
<br /> 1. It is hereby found and determined that the acquisition, con-
<br />struction and equipping of the Project will be in the public interest
<br />and will promote the safety, health, welfare, convenience or prosperity
<br />of the City of Charlottesville, Virginia, and its citizens.
<br />
<br /> 2. The Council hereby approves the location and financing of the
<br />Project.
<br />
<br /> 3. It is hereby found and determined that the Project meets the
<br />criteria set forth in Section 5 of the Ordinance.
<br />
<br />4. All other resolutions in conflict herewith are hereby repealed.
<br />
<br />5. This Resolution shall take effect immediately.
<br />
<br />On motion by Dr. Hall, seconded by Mrs. Gleason, the following
<br />
<br />resolution was adopted by the following vote, Mr. Conover abstaining.
<br />
<br />Ayes: Mr. Buck, Mrs. Gleason, Dr. Gunter, Dr. Hall. Noes: None.
<br />
<br /> WHEREAS, the Council of the City of Charlottesville, Virginia
<br />(the "Council") has created the Industrial Development Authority of
<br />the City of Charlottesville, Virginia (the "Authority") pursuant to
<br />the Virginia Industrial Development and Revenue Bond Act to fulfill
<br />the purposes of such Act; and
<br />
<br /> WHEREAS, the Ordinance adopted by the Council on July 19, 1976,
<br />as amended on February 3, 1980, which created the Authority (the
<br />"Ordinance"), provides that the Authority shall not finance any facility
<br />until the location and financing of such facility have been approved by
<br />the Council; and
<br />
<br />
<br />
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