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RESOLUTION:
<br />AUTHORIZING
<br />FINANCING, ACQUI-
<br />SITION, CONSTRUC-
<br />TION, AND
<br />EQUIPPING OF
<br />AUTOMATIC CAR
<br />WASH IN
<br />SEMINOLE SQUARE
<br />
<br />RESOLUTION:
<br />AUTHORIZING MAYOR
<br />TO SIGN DEED
<br />CONVEYING PORTION
<br />OF CITY'S RIGHT OF
<br />WAY AT ROCKLAND
<br />AND MERIDIAN ST.
<br />
<br /> WHEREAS, Section S 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 H. Pat Wood acting on behalf of himself
<br />or an entity to be formed by him to!~be known as Charlottesville Properties,
<br />Ltd., No. 2, a Virginia limited partnership (the "Developer") in the
<br />financing of the acquisition, construction and equipping of a hotel to
<br />be located in the City of Charlottesville, Virginia (the "Project") by the
<br />issuance of the Authority's industrial development revenue bonds in an
<br />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 the
<br />Developer; and
<br />
<br /> WHEREAS, the Project will be located in the Vinegar Hill redevelopment
<br />area in the City of Charlottesville, Virginia;
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF CHARLOTTES-
<br />VILLE, VIRGINIA:
<br />
<br /> 1. It is hereby found and determined that the acquisition, construction
<br />and equipping of the Project will be in the public interest and will promote
<br />~the safety, health, welfare, convenience or prosperity of the City of
<br />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 S of the Ordinance.
<br />
<br /> 4. Ail other resolutions in conflict herewith are hereby repealed.
<br />
<br /> S. This Resolution shall take effect immediately.
<br />
<br /> On motion by Dr. Hall, seconded by Mrs. Gleason, the following
<br />resolution was adopted by the following vote. Ayes: Mr. Buck, Mr. Conover,
<br />Mrs. Gleason, Dr. Gunter, Dr. Hall. Noes: None.
<br />
<br /> WHEREAS, the Council of the City of Charlottesville, Virginia (the
<br />"Council") has created the Industrial Development Authority of the City of
<br />Charlottesville, Virginia (the "Authority") pursuant to the Virginia
<br />Industrial Development and Revenue Bond Act to fulfill the purposes of
<br />such Act; and
<br />
<br /> WHEREAS, the Ordinance adopted by the Council on July 19, 1976, as
<br />amended on February 3, 1980, which created the Authority (the "Ordinance"),
<br />provides that the Authority shall not finance any facility until the
<br />location and financing of such facility have been approved by the Council'
<br />and · '
<br />
<br /> WHEREAS, Section S of the Ordinance sets forth certain standards to
<br />be considered by the Authority and the Council in determining the nature
<br />and location of facilities to be financed by the Authority; and
<br />
<br /> WHEREAS, the Authority on December 14, 1982 adopted an inducement
<br />resolution agreeing to assist Henry F. Weinschenk, an individual (herein-
<br />after referred to as "Weinschenk"), in the financing of the acquisition
<br />of a certain parcel of land located on U. S. Route 29 North in a develop-
<br />ment known as Seminole Square and the construction and equipping of an
<br />automatic car wash to be located in the City of Charlottesville, Virginia
<br />(the "Project") by the issuance of the Authority's industrial development
<br />revenue bonds in an amount not to exceed $750,000; and
<br />
<br /> WHEREAS, preliminary planS for. the Project and the financing have been
<br />described to the Council in a presentation by Weinschenk; and
<br />
<br /> WHEREAS, the Project will be located on U. S. Route 29 North in a
<br />development known as Seminole Square 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, construction
<br />and equipping of the Project will be in the public interest and will promote
<br />the safety, health, welfare, convenience or prosperity of the City of
<br />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. This Resolution shall take effect immediately.
<br />
<br /> Council agreed to continue this matter until the first regular meeting
<br />in January.
<br />
<br />16' 9:
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