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TUESDAY, JANUARY 14, 1997 <br />handicapped. Mayor Adams then declared the public hearing open. <br />Robert Haley, Board Member of Stepping Stones, spoke in support of <br />adoption of the Resolution. In response to a question from J. Ronnie <br />Minter, Commissioner of Revenue, Mayor Adams stated the tax exemption <br />applied only to real estate, not personal property. There being no <br />other comments, Mayor Adams declared the public hearing closed. Upon <br />motion, duly seconded and by unanimous vote, Council adopted the <br />following ResoIution:. <br /> <br />WHEREAS, Stepping Stones, Inc. has been providing services and <br />facilities for mentally and physically challenged persons in the City <br />of Martinsville and County of Henry since 1988; and <br /> <br />WHEREAS, Stepping Stones, Inc. has purchased property located at 600 <br />Northside Drive in the City of Martinsville and is now operating from <br />this facility; and <br /> <br />WHEREAS, Stepping Stones, Inc. desires to obtain real estate tax <br />exemption for said property from the Virginia General Assembly; and <br /> <br />WHEREAS, the Martinsville City Council had a notice published in the <br />Martinsville Bulletin on December 15, 1996, advising the general <br />citizenry of a public hearing to be conducted January 14, 1997, on this <br />request; and <br /> <br />WHEREAS, Martinsville City Council conducted said public hearing on <br />January 14, 1997; and <br /> <br />WHEREAS, Stepping Stones, Inc. has submitted the following information <br />in accordance with Section 30-19.04 .of the Code of Virginia, as <br />amended: <br /> <br />Stepping Stones, Inc. is exempt from taxation pursuant to <br />Section 501-C of the Internal Revenue Code of 1954. <br /> <br />Stepping Stones, Inc. does not hold an alcoholic beverage <br />license. <br /> <br />No director or officer of Stepping Stones is paid compensation <br />in excess of a reasonable allowance for salary. <br /> <br />4. a. <br /> <br />No part of the net earnings of Stepping Stones inures <br />to the benefit of any one individual. <br /> <br />be <br /> <br />Portions of the service provided by Stepping Stones are <br />generated by funds from donations, contributions and/or <br />grants. <br /> <br />By providing rehabilitative and custodial care for the men- <br />tally and physically challenged of our community, Stepping <br /> <br /> <br />