Agenda 11/28/2006 - Laserfiche WebLink

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November 14, 2006 SECTION 3: That the authorization contained herein shall not obligate the Municipality to incur any liability for the actual construction of any Hydro Project without further action of this Council. SECTION 4. That Resolution adopted May 9lh, 2006 is hereby repealed. SECTION 5: This Council finds and determines that all formal actions of this Council concerning and relating to the adoption of this Resolution, to the extent required to be, were taken in an open meeting of this Council and that all deliberations of this Council and any of its committees that resulted in those formal action were in compliance with the Law. SECTION 6: This Resolution shall be effective at the earliest time pennitted by law. Council considered adoption of a Resolution designating the Uptown area , as described on Exhibit A as a revitalization area. 'Mark Price, property owner in the City, explained that this is the opportunity for financing of mixed-use, commercial-residential projects. In order to be eligible for this financing, an are~ must be designated as a revitalization area. Taking this action comes at no cost to the city and once the Resolution is adopted and forwarded to VHDA, their representatives would be willing to' come to Martinsville and conduct a forum and instruction session for the benefit of any property owners desiring to take advantage of the financing. After questions from Council concerning expanding the boundaries to include a broader area, the Resolution was tabled and City Manager Collins was requested to ask Wayne Knox, Community Development Director, to revise the current map to include other areas, to make sure it fits in with the City's comprehensive plan and to review and get a recommendation from MURA and place on the next agenda for Council action.