University of Virginia Library

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AUTHORIZATION TO EXPAND THE SCOPE OF THE HISTORIC RENOVATION CORPORATION TO INCLUDE SPECIAL PURPOSE HOUSING
 
 
 
 
 
 
 
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2672

AUTHORIZATION TO EXPAND THE SCOPE OF THE HISTORIC RENOVATION
CORPORATION TO INCLUDE SPECIAL PURPOSE HOUSING

The following resolution was adopted:

  • WHEREAS, the Board of Visitors created a stock corporation under Virginia law to act as General Partner in limited partnerships for renovating fraternity and sorority houses; and
  • WHEREAS, the Historic Renovation Corporation wishes to increase the scope of its renovation projects to include special purpose housing such as language houses; and
  • WHEREAS, the Historic Renovation Corporation wishes to act as General Partner in limited partnerships for renovating such special purpose housing;
  • NOW THEREFORE BE IT RESOLVED that the Historic Renovation Corporation be, and it thereby is, authorized to act as a General Partner in limited partnerships renovating special purpose housing; and
  • FURTHER RESOLVED that the University's Endowment Fund is authorized to guarantee the leasehold obligations of organizations who may lease the renovated special purpose houses from such limited partnerships, and pledge its assets for the security thereof, provided however, that such guarantees shall be limited with respect to each leasehold obligation to one hundred thousand dollars ($100,000).