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To designate the property known as 2200 Ingram Avenue as a revitalization area pursuant to Va. Code ? 36-55.30:2.
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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 2200 Ingram Avenue, identified as Tax Parcel No. S000-0863/001 in the 2023 records of the City Assessor and as shown on the survey entitled "Oak Grove Townhome Subdivision, 2200 Ingram Avenue, S0000863001, City of Richmond, VA," prepared by Nyfeler Survey, and dated March 9, 2023, a copy of which is attached to this resolution, is an area (i) for which the industrial, comm...
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