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66 <br /> <br />A RESOLUTION APPROVING RE.FINANCING BY THE VIRGINIA HOUSING <br />DEVELOPMENT AUTHORITY OFAMULTI-FAMILYRESIDE~IALHOUSING <br />DEVELOPMENT CALLED CRADOCK COLONIAL APARTMENTS SITUATED AT 102 <br />DAHLGREN AVENUE (I300 BLOCK OF VICTORY BOULEVARD). <br /> <br /> WHEREAS, the Virginia Housing Development Authority <br />("VI{DA") in accordance with ~36-55.39 (B) of the Code of <br />Virginia, 1950, as amended, has notified the City of <br />Portsmouth, Virginia, that it is considering the re-financing <br />of a multi-family residential housing development consisting of <br />approximately seventy-two (72) units of non-subsidized housing <br />to be financed under the Virginia Housing Development <br />Authority's Conventional Multi-Family Loan Program, to be <br />situated at 102 Dahlgren Avenue (1300 Block of Victory <br />Boulevard), in the City of Portsmouth, Virginia, such <br />development having been designated as Cradock Colonial <br />Apartments; and <br /> <br /> WHEREAS, ~36-55.39 (B) provides that VHDA shall, prior to <br />the approval of financing of any proposed multi-family <br />residential housing development, find that the governing body <br />of the locality in which such housing development is to be <br />located has not, within sixty (60) days after written <br />notification of the proposed financing, certified to VHDA in <br />writing its disapproval of the proposed multi-family <br />residential housing development; and <br /> <br /> WHEREAS, the Council of the City of Portsmouth, Virginia, <br />has considered the development proposal and has not certified <br />in writing its disapproval of this proposed re-financing within <br />the sixty (60) day time period. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED that the Council of the <br />City of Portsmouth, Virginia, in accordance with Virginia Code <br />§36-55.39 (B) expresses to the Virginia Housing Development <br />Authority its approval of the proposed re-financing of the <br />multi-family residential housing development called Cradock <br />Colonial Apartments as described above. <br /> <br /> BE IT FURTHER RESOLVED that the Mayor is authorized to <br />issue a Certification of Approval on behalf of the City Council <br />to the Virginia Housing Development Authority. <br /> <br /> Adopted by the Council of the City of Portsmouth, <br />Virginia, at a meeting held on November 23, 1993. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />