RESOLUTION

         Financial Resolution Supporting 1025 Park Street A & B (f/k/a MACAA)
                               Parcel Number: 470007100



NOW, THEREFORE BE IT RESOLVED that the Council of the City of Charlottesville,
Virginia hereby commits up to $3,770,000 in the form of grants for the development of 1025 Park
Street A & B (f/k/a MACAA redevelopment project) subject to Piedmont Housing Alliance
satisfying the conditions of a Memorandum of Understanding agreed to by the City and Piedmont
Housing Alliance. The commitment of up to $3,770,000 will help to subsidize 1025 Park Street A
& B which in turn will create approximately 86 newly constructed affordable housing units in the
City of Charlottesville. This commitment will be made to Piedmont Housing Alliance.




                                                                  Approved by Council
                                                                  February 21, 2023


                                                                  ________________________
                                                                  Kyna Thomas, CMC
                                                                  Clerk of Council