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TUESDAY, OCTOBER 24, '1989 <br /> <br /> before Council and informed Council that, under the definition of "gross <br /> revenue" made a part of the franchise renewal ordinance, there are allowances, <br /> now estimated to be 1%, which are not subject to the franchise "pass-on" fee <br /> <br />and, thus, the cable company is passing on to in-City subscribers a franchise <br />fee of 4%. Following some discussion of this matter by members of Council, in <br /> <br /> which questions were raised by both Councilman Groden and Councilman McClain as <br /> to why the franchise pass-on fee is not remitted monthly instead of annually <br /> and as to why required financial reports (covering local cablevision <br /> operations) have not been received for the last two years, Council concurred <br /> with Messrs. Groden's and McClain's requests for "CPA" financial reports. In <br /> addition, Council asked that copies of the franchise renewal ordinance, which <br /> became effective January 1, 1987, be provided each member of CounCil. <br /> <br />Council went on record as being in support of an application being filed by <br />Martinsville Housing Limited Partnership (Weaver Investment Company, <br />Greensboro, N. C.~) for a Farmers Home Administration loan of $1,225,100.00 to <br />finance the cost of constructing thirty-eight (38) rental apartment units, <br />designed for housing of senior citizens, at Martins Landing II off the north <br />side of East Church Street at the City's east corporate limits off Route 58 <br />East. <br /> <br />Council unanimously adopted a policy, entitled "Policy on the Use of Drugs & <br />Alcohol by City Employees and Applicants for City Positions", as recently <br />recommended and revised by City Manager Brown. Council stipulated that this <br />policy, applicable to those City departments and employees under the <br /> <br /> <br />