20010626 r-01-19 R-01-19
RESOLUTION NO.
A RESOLUTION REVISING THE PURPOSE OF THE CITY OF FAIRFAX
RENAISSANCE HOUSING CORPORATION AND CHANGING THE METHOD OF
ELECTING ITS BOARD OF DIRECTORS.
WHEREAS, on September 26, 2000, the City Council of the City of Fairfax, Virginia,
passed a resolution authorizing the establishment of a nonstock, nonprofit corporation known
as the City of Fairfax Renaissance Housing Corporation; and
WHEREAS, on December 5, 2000, the City of Fairfax Renaissance Housing
Corporation (the "Corporation") was incorporated as a Virginia nonstock corporation; and
WHEREAS, the City and the Corporation agree that in order for the Corporation to
operate more effectively and serve the function initially contemplated by the City, certain
changes should be made to the stated purpose of the Corporation and the method of electing
its Board of Directors.
NOW, THEREFORE, BE IT RESOLVED by the City Council that the stated purpose
of the Corporation shall be the revitalization and redevelopment of the community, and in
furtherance of this purpose, the Corporation may acquire, hold, rehabilitate, manage, lease and
sell real property in the City, make or arrange for home improvement loans to eligible persons
for the rehabilitation or improvement of real property located in the City, and transact any and
all lawful business not otherwise set forth herein.
BE IT FURTHER RESOLVED that the minimum number of directors of the
Corporation shall be five (5), and the maximum number of directors shall be nine (9). The
directors are to be appointed by majority vote of the Corporation's Board of Directors. No
director or officer of the Corporation shall be a elected or appointed official, or an employee
or agent, of the City. The directors shall serve staggered terms, such terms to be decided by
the Board of Directors.
BE IT FURTHER RESOLVED that the City Council recognizes the Corporation as a
self-governing and self-perpetuating body.
ADOPTED this 26th day of June, 2001.
Mayor
ATTEST: