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2000 Resolutions
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2000 Resolutions
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2/6/2009 3:35:48 PM
Creation date
6/6/2001 4:55:54 PM
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Ord/Resolutions
Year
2000
Ord/Resolutions - Type
Resolutions
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R-00-35 <br /> <br />A RESOLUTION AUTHORIZING THE CITY MANAGER TO ENTER INTO A <br />GROUND LEASE AGREEMENT WITH GEM PORTSMOUTH HIGH, L.L.C., <br />FOR PROPERTY LOCATED AT OR NEAR THE 1700 BLOCK OF HIGH <br />STREET. <br /> <br /> BE IT RESOLVED by the Council of the City of Portsmouth, Virginia that the <br />City Manager be, and he hereby is, authorized to enter into a ground lease with GEM <br />Portsmouth High, L.L.C., ("GEM") for property located at or near the 1700 block of High <br />Street, by which agreement the City of Portsmouth will lease said property to GEM <br />for a term of forty (40) years, and then sublease from GEM said property and all <br />improvements thereon pursuant to a development agreement with GEM to develop a <br />municipal facility to house the Portsmouth Department of Social Services and the <br />Portsmouth Health Department at said location. <br /> <br /> BE IT FURTHER RESOLVED that the ground lease to GEM shall provide that <br />at the expiration or termination of the City's sublease agreement with GEM, the ground <br />lease to GEM shall also terminate. <br /> <br /> Adopted by the Council of the City of Portsmouth, Virginia, at a meeting held on <br />June 27, 2000, <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />
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