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262 <br /> <br />TUESDAY, FEBRUARY 27, 1990 <br /> <br />City Manager Brown noted that under the CDBG regulations a <br />locality cannot apply and receive funding for more than two grants <br />totaling $1,000,000 in a given year unless there has actually been <br />a 75% drawdown of a current grant. Since our current Hehab <br />project in this area will not have achieved this 75% drawdown by <br />the application deadline, the Administration recommends that this <br />application be approved, subject to filing at a later date, <br />probably one year from now. During the public hearing, Bruce <br />Dallas and J. B. Travis expressed disappointment because the City <br />would have to wait until next year to be eligible to file this <br />application. There were no adverse comments on this project. <br />Upon motion, duly seconded and unanimous vote, Council approved <br />the application as presented, with the understanding that it would <br />not be filed until next year. <br /> <br />Be <br /> <br />A 28-unit new housing project to be constructed on a 15-acre tract <br />of land situated between Smith Lake Road and the Norfolk/Southern <br />Railroad and located adjacent to the west boundary of land owned <br />by Nationwide Homes, Inc., on which their manufacturing plant is <br />situated. It was noted that this project would include the <br />purchase of land, construction of street including curb and <br />gutter, extension of water line and sewer line as necessary. It <br />is anticipated that low-interest loans will be available through <br />VHDA to potential buyers of housing units to be located in the <br />project area. These housing units are to be built by builders <br />under contract with the City at no cost to the City for low- to <br />moderate-income persons. This grant application would be for <br />$296,000. During the public hearing, favorable comments were made <br />by Tom Leath and J. B. Travis. There were no adverse comments on <br />this project. Upon motion, duly seconded and unanimous vote, <br />Council approved the application as presented and adopted the <br />following resolution: <br /> <br />WHEREAS, at a duly advertised public hearing held February 27, 1990, <br />Martinsville City Council authorized the filing of an application with <br />the Virginia Department of Housing and Community Development for a <br />grant under the Virginia Community Development Block Grant Program to <br />acquire and develop a site situated on Smith Lake Road in the City of <br />Martinsville for the purpose of constructing 28 single-family dwelling <br />units; and <br /> <br />WHEREAS, an estimated total of local and Community Development Block <br />Grant funds in the amount of $346,000 will be expended on this <br />project; and <br /> <br />WHEREAS, it is projected that 76 persons will benefit from the imple- <br />mentation of this project, of which 100% will be low- and moderate- <br />income persons; now, therefore, <br /> <br />BE IT RESOLVED by the Council of the City of Martinsville, Virginia in <br />regular session assembled on February 27, 1990, that a duly advertised <br />public hearing having been conducted on said project on same date, the <br /> <br /> <br />