RESOLUTION

A RESOLUTION TO AUTHORIZE THE ANNUAL REIMBURSEMENT OF A PORTION OF THE REAL ESTATE TAXES OF THE WINDY HILL FOUNDATION FOR A PERIOD OF FIVE YEARS

WHEREAS, Windy Hill Foundation is in the process of constructing an affordable housing project in the plains which will provide affordable and workforce housing for an estimated 16 households in The Plains, Virginia; and

WHEREAS, Windy Hill Foundation is seeking State grant funds to assist in the construction of the project; and

WHEREAS, the Board of Supervisors participates in a number of affordable housing efforts and desires to encourage the successful and timely completion of the Windy Hill project; and

WHEREAS, Windy Hill has informed the Board that its grant application will be evaluated more favorably in the event that the Board of Supervisors agrees to support the project through favorable taxation in the form of tax abatement or similar treatment; and

WHEREAS, the Board of Supervisors wishes to evidence its intent to support the grant application to the fullest extent authorized by law; now, therefore, be it

RESOLVED by the Fauquier County Board of Supervisors this 11th day of March 2010, That the Board of Supervisors hereby commits to provide a donation to the Windy Hill Foundation or its eligible assignee, on an annual basis for a period of five years, of funds sufficient to reimburse Windy Hill for that portion of the real estate taxes attributed to the physical improvements to be constructed on Windy Hillís real property; and, be it

RESOLVED FURTHER, That should the project as structured be eligible for tax credits or tax abatement applicable to the real estate improvements, it will in the alternative provide for such abatement for a period of five years; and, be it

RESOLVED FURTHER, That the Board evidences its commitment to the funding or tax abatement provided for herein to the full extent authorized by law, subject to the lawful appropriation of funds to provide for the donation or in the alternative to the adoption of an ordinance providing for tax abatement after a duly advertised public hearing; and, be it

RESOLVED FINALLY, That the County Administrator be, and is hereby, authorized and directed to write a letter in support of the grant application and to forward a copy of this resolution to the Windy Hill Foundation.

A Copy Teste

 

Paul S. McCulla

Clerk to the Board of Supervisors

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