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R-96-41 A RESOLUTION CONCERNING THE ACQUISITION AND LEASE OF THE TWIN PINES ROAD BORROW PIT. WHEREAS, the Virginia Department of Transportation (VDOT) has indicated its willingness to transfer to the City of Portsmouth a tract of land commonly known as the Twin Pines Road Borrow Pit, provided the land is used for non-profit natural conservation and educational purposes; and WHEREAS, the City has issued a Request for Proposals for organizations to develop and to manage the property for said natural conservation and educational purposes; and WHEREAS, the sole proposal received was from the Hoffler Creek Foundation, Inc., and it is in the best interests of the City that it enter into a lease with the foundation toward the stated end, subject to certain conditions and performance standards; NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that the City Manager, by and on behalf of the City is, authorized to formally apply to VDOT for a transfer of the property to the City subject to such conditions as may be imposed by VDOT; to reach agreement on the terms of transfer; to execute and deliver such documents as may be necessary to effect the transfer; and to accept the property from VDOT. The City Manager is further authorized to enter into a lease with the Hoffler Creek Foundation, Inc. by which the City leases the property to the Foundation for the above-stated purposes. The lease shall contain defined performance standards to ensure that the property is developed operated, and maintained consistently with the criteria set by the City, and it shall provide for annual review with a right of termination if those standards have not been met. The City Manager shall periodically report to Council on actions taken pursuant to this resolution. Adopted by the Council of the City of Portsmouth, Virginia, at a meeting held on August 27, 1996. Teste: City Clerk