HomeMy WebLinkAbout068-93RESOLUTION NO. 68-93
A RESOLUTION AUTHORIZING A LOAN FROM THE
TOWN CIVIC FACILITIES FUND TO THE COMMUNITY
DEVELOPMENT AGENCY FOR PURCHASE OF PROPERTY AT 825 HARTZ WAY
WHEREAS, the Danville Community Development Agency has authorized the purchase of the
existing County library located at 825 Hartz Way; and
WHEREAS, the Agency has $.495,449 available for purchase of the site; and
WHEREAS, the purchase price for the site is $600,000 plus closing costs; and
WHEREAS, the Town Civic Facilities Fund has a sufficient fund balance available to provide a
loan of necessary funds to the Agency; and
WHEREAS, the loan will be repaid to the Civic Facilities Fund by the Agency upon accrual of
additional Housing Set Aside Funds; now, therefore be it
RESOLVED that the Town Council of the Town of Danville hereby approves the loan of funds
from the Civic Facilities Fund to the Community Development Agency to complete the purchase
of the existing library site.
APPROVED by the Danville Town Council of the Town of Danville at a Regular Meeting held on
Tuesday, June 1, 1993, by the following vote:
AYES: SHIMANSKY,
NOES NONE
ABSTAINED: NONE
ABSENT: LANE
RITCHEY, DOYLE, GREENBERG
APPROVED AS TO FORM:
/ CITY ATTORNEY
ATTEST:
Qaz /cL
CITY CLERK