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<br />3') <br />t ~ <br /> <br />TUESDAY <br /> <br />MARCH 28, 1972 <br /> <br />attractive by the banks but urged Council, should it establish a local Industrial <br /> <br />Authority, to select with care the members of such an authority to insure no <br /> <br />overlapping of the authority's powers and services with those of banking <br /> <br />institutions. At this point, Mr. Deloe indicated that such authorities are <br /> <br />not promotional agencies but can serve only as a financing group to assist in <br /> <br />obtaining loans for qualifying industries to construct new facilities or expand <br /> <br />.- <br /> <br />existing facilities, such as for pollution control or medical facilities. <br /> <br />Mr. Burch expressed some apprehension over the fact that an established <br /> <br />authority is responsible to no one and that, under certain conditions, contains the <br /> <br />aspect of perpetuity. Subsequently, upon motion which was duly seconded and <br /> <br />and unanimously carried, Council placed the proposal on first reading, meanwhile <br /> <br />extending an invitation to the Chamber of Commerce to offer a list of nominees <br /> <br />for membership on the Authority, if and when established or created. <br /> <br />Continuing its consideration of the recommendation presented by Mr. D. B. Hanel, <br /> <br />Commissioner of the Revenue, to Council at its March 14th meeting, that a permanent <br /> <br />or year-around appraiser be employed, Council received from the City's 1971 Board <br /> <br />of Equalization the opinion that it would be to the best advantage of the City to <br /> <br />consider establishing the recommended continuous reappraisal procedure; whereupon <br /> <br />motion, duly'seconded, Council authorized the Commissioner of the Revenue to employ <br /> <br />a qualified appraisor, with the understanding that the State of Virginia (through <br /> <br />concurrence by the State Compensation Board) would share in the cost thereof. <br /> <br />Pursuant to recommendations and reports of the Planning Commission, Council called <br /> <br />for duly-advertised public hearings to be conducted at Council's forthcoming <br /> <br />April 25th meeting on the following rezoning petitions: <br /> <br />(1) American Standard Homes Corporation -- petition filed December 28, <br />1971, and as amended, for "M-3" zoning of its property which lies <br />on the south side of proposed relocation of Stultz Road; <br />