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<br />J54 <br /> <br />TUESDAY, JANUARY 27, 1987 <br /> <br />In accordance with regulatory requirements and pursuant to duly-published notice, <br /> <br />Council conducted the second of two public hearings (the first one having been <br /> <br />conducted in special meeting for this purpose in the Council Chamber, City Hall, <br /> <br />Tuesday, January 27, 1987, at 2:00 P.M.) to receive input from the public regarding <br /> <br />an application for an Urban Development Action Grant ("UDAG") to assist Martinsville <br /> <br />Development Associates, a division or component of Elledge & Associates, in <br /> <br />financing the development of a 120-room hotel between North Bridge Street and West <br /> <br />Main and West Church Streets, with the grant--if the application is approved--to be <br /> <br />loaned to the developer as needed and with the repayments thereof to be used by the <br /> <br />City for community development projects. City Manager Brown informed Council and <br /> <br />the public that the hotel development is estimated to cost $10,803,000.00 and that <br /> <br />the UDAG funds being applied for will be in the amount of $3,000,000.00 instead of <br /> <br />$2,000,000.00 heretofore mentioned. Representing the developer and present for this <br /> <br />meeting was Mr. Maurice Elledge. There being no objections registered by anyone to <br /> <br />the proposed project and/or to the application for UDAG assistance, Mayor Oakes <br /> <br />declared the public hearing closed. In response to an inquiry, Mr. Elledge <br /> <br />indicated that the hotel will be a Hilton-type or a Sheraton-type. Meanwhile, Mr. <br /> <br />Elledge expressed appreciation to City Council, City officials, and local business <br /> <br />interests for their cooperation and assistance in this venture. <br /> <br />After receiving from City Manager Brown a statement of the purposes of a proposed <br /> <br />ordinance (identified as Ordinance No. 87-2 and as presented to Council at its <br /> <br />January 13th meeting, which, if adopted, will amend Section 12-83 of the City Code), <br /> <br /> <br />as well as a description of the City's current role in providing off-street parking <br /> <br />in the downtown business district, Council was urged by Mr. Stuart Axelrod, co-owner <br /> <br />and co-operator of Sammy's At-The-Plaza Restaurant, to see that the City's motor <br /> <br />vehicle parking regulations are enforced to prevent usage of downtown customer <br />