imported post
Here is the Hampton law that created the authority. Lucky me, the city manager is on the authority board.:celebrate
Link: [url]http://library.municode.com/index.aspx?clientId=14532&stateId=46&stateName=Virginia
ARTICLE XVII. - THE PENINSULA TOWN CENTER COMMUNITY DEVELOPMENT AUTHORITY[/url]
Sec. 2-377. - Created; composition; powers and duties; etc.
Secs. 2-378—2-390. - Reserved.
Sec. 2-377. - Created; composition; powers and duties; etc.
(a)
[
Findings.]
[align=left]WHEREAS, the Virginia Water and Waste Authorities Act, Chapter 51, Title 15.2 of the Code of Virginia of 1950, as amended (the "Act"), authorizes the creation of a community development authority on the petition of the landowners of at least fifty-one (51) percent of the land area or assessed value of land of a tract of any size within a city; [/align]
[align=left]WHEREAS, the City Council of the City of Hampton, Virginia (the "city council"), has received a petition (the "petition") from Hampton Mall Associates, a Virginia general partnership (the "landowner"), for the creation of the Peninsula Town Center Community Development Authority (the "CDA"), and the establishment of the boundaries of the Peninsula Town Center Community Development Authority District (the "CDA district"); [/align]
[align=left]WHEREAS, the landowner has represented that it owns at least fifty-one (51) percent of the land included in the proposed CDA district; [/align]
[align=left]WHEREAS, a public hearing has been held on February 8, 2006, by the city council on the adoption of this section and notice has been duly provided as set forth in §§ 15.2-5104 and 15.2-5156 of the Act; [/align]
[align=left]WHEREAS, the city council proposes to create the CDA in order to provide the public improvements described in the petition and to establish the boundaries of the CDA district; [/align]
[align=left]WHEREAS, the creation of the CDA to assist in financing certain improvements in connection with the proposed development within the CDA district will benefit the citizens of the City of Hampton, Virginia (the "city"), by providing additional residential and commercial options in a network of connected public streets and urban park sites for the citizens of the city, as well as public improvements benefiting the citizens of the city, will promote economic development and redevelopment and expansion of the city's tax base and will meet the increased demands placed upon the city as a result of development within the CDA District; and [/align]
[align=left]WHEREAS, the landowner has waived in writing the right to withdraw its signature from the petition in accordance with § 15.2-5156(B) of the Act. [/align]
[align=left]Now, therefore, be it ordained by the City Council of the City of Hampton, Virginia: [/align]
(b)
Creation of authority. The Peninsula Town Center Community Development Authority is hereby created as a public body politic and corporate and political subdivision of the Commonwealth of Virginia in accordance with the applicable provisions of the Act. The CDA shall have the powers set forth in the Act.
(c)
Boundaries of CDA. The CDA district is hereby established and the boundaries shall initially include the property identified in the attached Exhibit A. In accordance with § 15.2-5157 of the Act, a copy of this section shall be recorded in the land records of the Circuit Court of the City of Hampton for each tax map parcel in the CDA district as such CDA district exists at the time of issuance of the CDA's bonds and the CDA district shall be noted on the land records of the city. The city manager, upon the request of the CDA, may modify the boundaries of the CDA district before or after the issuance of the CDA's bonds to permit exchanges of certain property included in the CDA district for property owned by the city and located within the perimeter of the CDA district (but not included in the CDA district on the date hereof), up to three (3) acres.
(d)
Facilities and services. The CDA is created for the purpose of exercising the powers set forth in the Act, including without limitation, financing, funding, planning, establishing, acquiring, constructing or reconstructing, enlarging, extending, equipping, developing, operating, owning and maintaining if necessary, certain improvements in connection with the development of an urban residential and commercial town center as described in the petition and the CDA's articles of Incorporation. The CDA shall have all the powers provided by the Act. The CDA shall not provide services which are provided by, or obligated to be provided by, any authority already in existence pursuant to the Act unless such authority provides the certification required by § 15.2-5155 of the Act.
(e)
Articles of incorporation. Attached as Exhibit B are the proposed articles of incorporation of the CDA. The city manager is authorized and directed to execute and file such articles of incorporation on behalf of the city council with the state corporation commission in substantially the form attached as Exhibit B with such changes, including insubstantial changes to the boundary description of the CDA district described therein, as the city manager may approve. The city manager is authorized to approve such changes or corrections to the articles of incorporation prior to filing with the state corporation commission as do not change the purpose or function of the CDA as set forth in this section and in the petition.
(f)
Capital cost estimates. The city council hereby finds, in accordance with § 15.2-5103(B) of the Act, that it is impracticable to include capital cost estimates.
(g)
Membership of the authority.
(1)
The powers of the CDA shall be exercised by an authority board consisting of five (5) members.
(2)
All members of the CDA board shall be appointed by the city council in accordance with the provisions of § 15.2-5113.
(3)
One (1) member of the CDA board shall be the city manager or his designee, and such designee shall be designated in writing by the city manager and shall serve the same fixed term as the city manager.
(4)
One (1) member of the CDA board shall be the landowner's designee, and such designee shall be designated in writing by the landowner.
(5)
Three (3) members of the CDA board shall be recommended by the landowner for appointment by city council.
(6)
In addition to the five (5) CDA board members described above, the city council shall also appoint one (1) alternate board member in a manner consistent with the Act.
(7)
The initial members of the CDA board shall be as set forth in the articles of incorporation for the terms set forth therein.
(8)
A vacancy on the CDA board caused by death, resignation, disqualification, or incapacity shall be filled by the city council, except the city manager shall appoint a replacement for any vacancy of the city manager's designee, and such persons so appointed shall serve for the unexpired portion of the term so vacated, and except further that the landowner shall appoint a replacement for any vacancy of the landowner's designee, and such persons so appointed shall serve for the unexpired portion of the term so vacated.
(9)
Each CDA board member, other than the city manager or his designee, shall receive such compensation for his or her services as a CDA board member as may be authorized from time to time by resolution of the CDA board, provided that no member shall receive compensation in excess of three hundred dollars ($300.00) per meeting attended unless authorized by resolution of the city council.
(h)
Plan of finance; issuance of bonds.
(1)
The improvements, services and operations to be undertaken by the CDA as described herein and in the petition shall be funded from all or some of the following sources: (i) bonds to be issued by the CDA; (ii) a special ad valorem real estate tax to be levied pursuant to Virginia Code § 15.2-5158(A)(3); (iii) special assessments to be levied pursuant to Virginia Code § 15.2-5158(A)(5); (iv) certain amounts to be paid by the city to the CDA from incremental tax revenues generated within an area to be designated by the city, which amounts and sources will be determined pursuant to an agreement between the city and the CDA and may include certain incremental increases in the city's real property, sales, meals and amusement taxes; and (v) any other source of funding available to the CDA including rates, fees and charges levied by the CDA for the services and facilities provided or funded by the CDA.
(2)
Bonds to be issued by the CDA (the "bonds"), in one (1) or more series from time to time, will be used to pay all or a portion of the costs of certain public improvements as generally described herein and in the petition, the costs of issuing the bonds and any required reserves, and interest on the bonds prior to and during acquisition and construction of such public improvements and for a period up to two (2) years after completion of such public improvements.
(3)
Any bonds issued by the CDA or any other financing arrangements entered into by the CDA will be debt of the CDA, will not be a debt or other obligation of the city and will not constitute a pledge of the faith and credit of the city.
(4)
In accordance with the policy adopted by city council on August 10, 2005, any financial obligation of the CDA shall be subject to approval by the city and to the terms contained in a memorandum of understanding between the CDA and the city regarding such obligation.
(i)
Effective date. This section shall take effect immediately.
[align=left](Ord. No. 1419, 2-22-06)[/align]