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R-99-57 <br /> <br />A RESOLUTION AUTHORIZING THE CITY MANAGER TO ENTER INTO A LEASE <br />AGREEMENT WITH SWEETBRIAR DEVELOPMENT CORPORATION FOR <br />PROPERTY LOCATED ON CRAWFORD STREET BETWEEN COUNTY STREET <br />AND COLUMBIA STREET. <br /> <br /> BE IT RESOLVED by the Council of Portsmouth, Virginia that the City Manager be, <br />and he hereby is, authorized to enter into a lease with Sweetbriar Development Corporation for <br />property located on Crawford Street between County Street and Columbia Street, by which <br />agreement the City of Portsmouth will lease said property for a period of ten (10) years, said <br />lease to provide further (1) that should the lease RUN for its full term, Sweetbriar Development <br />Corporation will convey fee simple title to the City of Portsmouth in consideration of the Lease <br />Payments and the sum of Two Hundred ($200.00) Dollars, (2) that the City may accelerate its <br />purchase of the property by appropriate notice to Sweetbriar Development Corporation, and <br />which said lease shall be a binding upon the City. Said property is to be more particularly <br />described in the lease and by survey, as approved as to form and accepted by the Office of the <br />City Attorney. <br /> <br /> Adopted at a meeting of the Council of the City of Portsmouth, Virginia held on October <br />26, 1999. <br /> <br />Teste: <br /> <br />City Clerk <br /> <br /> <br />