Charlottesville City Council consented Aug. 26 to an Economic Development Authority recommendation to act as a conduit issuer for a tax‑exempt revenue bond financing sought by the University of Virginia Alumni Association for a demolition and rebuild of Alumni Hall on Emmett Street.

Chris Singel, the city’s economic development director (speaking as EDA secretary), explained that conduit financings are a common mechanism under Virginia law that permit qualifying nonprofit entities to access tax‑exempt borrowing facilitated by an authority; he said no city or EDA funds and no city debt will be incurred and that the authority’s role is administrative. The EDA held a required public hearing the prior week and recommended approval; staff said no public comment was received at that hearing.

Council discussion touched on community benefits. One councilor argued the project supports local lodging, hospitality and merchant activity during alumni reunions and other events, producing meals‑tax and related local economic activity. Others pressed for clearer evidence tying the project to net public benefit, and at least one councilor used the discussion to reiterate longstanding concerns about the university’s tax‑exempt footprint and the city’s leverage when university‑related entities seek favorable arrangements.

Representatives of the Alumni Association said the association operates as an independent 501(c)(3) and that the project is privately financed; they said the association seeks to rebuild because the existing facility is failing and cited event rentals and community gatherings as local uses of the hall. They said the university is not funding the construction and that bond conduit issuance would enable favorable financing terms that the association said would be necessary to proceed.

Council voted to consent to the EDA action; staff and EDA representatives said the city is not financially liable for the bonds and that the EDA has used the conduit approach for similar projects historically.