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To authorize the Chief Administrative Officer, for and on behalf of the City of Richmond, to execute a Certificate of Completion for the benefit of Church Hill North Phase 1B LLC and the Richmond Redevelopment and Housing Authority at such time as the Chief Administrative Officer has determined that a certain deed condition requiring the construction and development of certain parcels of land as an affordable housing development has been fulfilled and completed.
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THE CITY OF RICHMOND HEREBY ORDAINS:
§ 1. That, at such time as the Chief Administrative Officer has determined that the condition under a certain Quit Claim Deed, dated January 23, 2017, and recorded in the land records of the Circuit Court of the City of Richmond on January 26, 2017, as Document No. 17-1669 (the “Deed”), that certain parcels of land located in the city of Richmond, Virginia, conveyed by the City of Richmond to the Richmond Redevelopment and Housing Authority be constructed and developed as an affordable housing development initially financed in part with an allocation of low-income housing tax credits provided through the Virginia Housing Development Authority has been fulfilled and completed, the Chief Administrative Officer, for and on behalf of the City of Richmond, be and is hereby authorized to execute a Certificate of Completion for the benefit of Church Hill North Phase 1B LLC and the Richmond Redevelopment and Housing Authority for the purpose of certifying, with respect to said parcels, that Church Hill North Phase 1B LLC and the Richmond Redevelopment and Housing Authority have fulfilled and completed the obligation under the Deed to construct and develop said parcels as an affordable housing development initially financed in part with an allocation of low-income housing tax credits provided through the Virginia Housing Development Authority. The Certificate of Completion shall be approved as to form by the City Attorney and shall be substantially in the form of the document attached to this ordinance.
§ 2. This ordinance shall be in force and effect upon adoption.