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CL-2867 New Business   Item #: F.       
Meeting Date: 11/01/2022  
Subject:    Rescind and Repeal Resolution 2022-07-02 as well as the Moral Obligation Agreement it approved
From: W. Clarke Whitfield, Jr.

COUNCIL ACTION
Business Meeting:     11/101/2022
SUMMARY
This action will rescind and repeal Resolution 2022-07-02 approved on July 5, 2022, as well as the Moral Obligation Agreement, attached hereto, between the City of Danville and American National Bank and Trust Company
BACKGROUND
City Council approved a Moral Obligation Agreement between the City of Danville and American National Bank and Trust Company on July 5, 2022, for the restoration of the White Mill property located at 424 Memorial Drive in the River District. American National Bank and Trust Company wishes to replace the Moral Obligation Agreement with a new and revised Moral Obligation Agreement to be considered in a separate Resolution, and has asked that the City Council rescind its previous action, and to rescind and repeal Resolution 2022-07-02 approved on July 5, 2022.
RECOMMENDATION
Staff recommends that City Council rescind and repeal Resolution No. 2022-07-02 which approved a Moral Obligation Agreement by and between the City Of Danville, Virginia and American National Bank and Trust Company.

Attachments
Resolution
Attachment


    

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