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City Recovers Money from Hotel, Public Chimes in on Budget at Co - NBC29 WVIR Charlottesville, VA News, Sports and Weather

City Recovers Money from Hotel, Public Chimes in on Budget at Council

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The Landmark Hotel The Landmark Hotel
CHARLOTTESVILLE, Va (WVIR) -

Budget talks and an eye sore in Charlottesville were on the top of the list at Monday’s City Council meeting.

Money tied up in the Landmark Hotel may soon be coming back to the city of Charlottesville. When construction first began on the hotel, there was an agreement with the developer that more than $100,000 would be set aside for pedestrian improvements.

The developer posted a bond, but since the project was never completed the city is now able to access the funds. That money - a total of $102,506 - will most likely go to the city's new sidewalk account. City Council will make the final decision at its next meeting.

Monday also marked the first public hearing on the Charlottesville’s proposed budget and on the tax rate for fiscal year 2015.

The proposed budget stands at $150.6 million. The proposed real estate tax rate will remain at 95 cents per $100 of assessed value. However, there is a proposal to raise taxes on cigarettes to 55 cents.

Not many people had objections to the budget, but some organizations want to be considered during upcoming budget talks.

Council will continue working to finalize the budget. The next work session is this Wednesday at CitySpace.

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