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<br />SUMMARY OF STA'I'El\.f&'lqTS
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<br />The IndusirialDevelopm~At1tho1ity of the City of Norfolk (the "Authority")
<br />. COD~ a publi~ ~ onbe~ oithe Ciue; ofC~~ Norfolk, Pommouth. Suffolk
<br />and Virginia Beach, all in Vifiinia, at 7:3.0 a.t11. OIl'nmrsday, Febrwny 26, 1998 at 600 City Hall
<br />Building, 810 t:nion Street, Norfolk, Virginia 23510, on the issuance of revenue bonds by the
<br />Industrial Development Authority oethe City of Alexandria (the "Alexandria IDA") in an
<br />amount not to. exceed S14.3 million dollars (the "BondS'), pursuant to the Industrial
<br />Developm.ent and Revenue Bond Act, Title 15,2, Chapter 49 of the Code ofVuginia of 1950, as
<br />amended, to assistthe Young Men's ChristianAssociation of South Hampton Roads (the
<br />"YMCA''), whose principal business address is 312 Wcsc Bute Street, Norfolk, Virginia 23510
<br />in (i) financing (A) the cost of the acquisitioD. construction and equipping of a complete YMCA
<br />facility includina but not limited to iYID and fi+v,s center, swimmil'lg pool, sauna and
<br />whirlpools,lockcr rooms and equipment for the ftucQ<ling, as well as parking areas, located on an
<br />8 ~ parcel on the we:st side of U.S. Route 13, 1.5 mile:s south of the Four Comers Shopping
<br />Center and across nom Edwards Seafood Restaurant in Onley in Acr.nm".,k County, (B) the
<br />. . acquisition of147 aaes ofland anddevclopmeat ob campground including family cabins and
<br />staff cabins, stables for horses, dining areas, a Swi~",il'lg pool, and other tecreational facilities
<br />for both Imd and water sports locatecl 011 the grounds of the existing Silver Beach CampgrollDd.
<br />on Onoahonoclc Road IUl31' Silwr Beach in Northhampton County, Vitginia. (C) the construction
<br />of a new gym at the Hilltop Family YMCA at 1536 Laskin Road, Vuginia Beach, Virginia
<br />23451 and (0) the construction of an iDdoorrunrrinr track and other improvf!m~ at the
<br />DowntoWn :Norfolk YMCA located at 312 West Bure Street, NOIfolk, Virginia 23510 and (ii)
<br />refiDancina (A). outdoor pool and renovations, including but DOt limited. to, a new gym, front
<br />cntrl1Du and lobby area, new fitllCSS and aerobics teoms and an indoor pool, for. the Suffolk
<br />Family YMCA located at 2769 Goclwin Avenue, Su1folk, VIrginia 23434, (8) an indoor pool
<br />and IeIlOVlltiollS to a fitness center, child care center. from entraDce and lObby areas and colporate
<br />ofticeutthe Do~NOIfoIk YMCA located. at312 W_Butc Street, Nm-ft.ll-, Virginia
<br />23510, (C) lockm, fitneu and aerobics areas, $lI"n"., wlUtlpools, oftij;;e spa:lil and other
<br />improvemeuts atthe Effing'"'''' YMCA located .1013 ~g/'IlIm S1reet, P01'tS1nourh. Virginia
<br />23704, (D) the acquiJition ancl equipping ofa cbi1d careCCDtcr at the Salem Family Center
<br />located at 2029 Salem. Road, Vlrp Bil'acq, Viqinla 23456, (E) the acquisition, eonstruction
<br />and equippillg of the :t\I11-scrvicc Hilltop Family'YMGA, including but not limited to
<br />c:ardiovasc:uJar, aerobics and fitness areas, a cbild care center and indoor~oI, located at 1536
<br />Laskin Roaci,Virginia B~. Virginia 23451, (F) the 3I:qUisition, renovaU9n and equippini of
<br />the Tndi",! River FII1tlily YMCA including a@ildcarecenterlocated .5660 Tnni,", .River Road,
<br />Virginia Bc-",.lt. VugiDia 23464, fG) ~ ~qui8ition and the tenO...ationand equipping, including
<br />but not limited to:fitncss !Uld cardiovascular equipment, refurbished aerobics and locker teom.
<br />areas and rebuilt racket ball COlUtI, of the fiill-aervice OreenbrierNorthYMCA located at 2100
<br />Old Greenbzier Roaci, Chesapeake, Virginia 23320, (H) the construction of two outdoor pools
<br />and the acldUion Ofa ~ovasc;u1ar fitJless.lIlCi\ and equipment and o~ improVC[l].Clnts located
<br />at the Mt. T~ FlIIIlily Ylv{CA lit 4441. South Boulevard. Virginia Beach. Vir&inia 23452,
<br />(l) two .outdo9r pools lUld other IeIlO~ons including but not limited ~. a Ji1:nel;$ c~, child
<br />care center, otllce.lobby and p8ridns lot ilnprcvementll at the Chesapeake Famijy YMCA
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