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To designate the property known as 1021 East 4th Street as a revitalization area pursuant to Va. Code ? 36-55.30:2. (6th District)
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WHEREAS, pursuant to section 36-55.30:2 of the Virginia Housing Development Authority Act (the "Act"), as set forth in sections 36-55.24 through 36-55.52 of the Code of Virginia (1950), as amended, the governing bodies of localities may by resolution designate an area within such locality as a revitalization area for the purpose of facilitating financing by the Virginia Housing Development Authority to assist private entities with the development of mixed use and mixed income projects; and
WHEREAS, pursuant to the Act, in order to designate an area as a revitalization area, the local governing body must determine that, with respect to such area, (i) the industrial, commercial or other economic development of such area will benefit the city but such area lacks the housing needed to induce manufacturing, industrial, commercial, governmental, educational, entertainment, community development, healthcare or nonprofit enterprises or undertakings to locate or remain in such area, and (ii) private enterprise and investment are not reasonably expected, without assistance, to produce the construction or rehabilitation of decent, safe and sanitary housing and supporting facilities that will meet the needs of low and moderate income persons and families in such area and will induce other persons and families to live within such area and thereby create a desirable economic mix of residents in such area; and
WHEREAS, the Council believes that the property known as 1021 East 4th Street, identified as Tax Parcel No. S000-0385/004 in the 2024 records of the City Assessor, being more particularly shown on the survey entitled "ALTA/ACSM Land Title Survey Showing 12.410 Acres of Land at the Intersection of 4th Street and Dinwiddie Avenue," prepared by Timmons Group, and dated February 11, 2009, and labeled as Parcel 4, and...
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