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48 <br /> <br />A RESOLUTION ACCEPTING THE BID OF CHARLES E. WILLETT, SR., TO <br />PURCHASE CITY-OWNED PROPERTY AT THE INTERSECTION OF WESLEY <br />STREET AND INDUSTRIAL AVENUE; AUTHORIZING THE CITY MANAGER TO <br />SIGN A DEVELOPMENT AGREEMENT AND DEED PURSUANT THERETO. <br /> <br /> WHEREAS, the City owns certain hereinafter-described <br />real property at the intersection of Wesley Street and <br />Industrial Avenue, which property is no longer required for <br />public purposes and is, hereby, declared to be excess <br />property; and <br /> <br /> WHEREAS, said property has been advertised for sale for <br />development as an industrial use; and <br /> <br /> WHEREAS, Charles E. Willett, Sr., owner of Trans-Shore <br />Company submitted a bid to purchase said property for the sum <br />of Eleven Thousand Fifty Five Dollars eighty one cents <br />($11,055.81) and, within twelve months from the date of <br />closing, to develop said property for a 3,000 square foot <br />office and warehouse facility with a projected investment of <br />Seventy Five Thousand Dollars ($75,000.00); and <br /> <br /> WHEREAS, the Council of the City of Portsmouth deems <br />to be in the best interest of the City to accept said bid <br />pursuant no the terms herein-stated. <br /> <br />it <br /> <br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the <br />City of Portsmouth, Virginia, that the City Manager be, and <br />he hereby is, authorized to e~[er into a development <br />agreement with Charles E. Willett, Sr., to purchase the <br />hereinafter-described real property and develop the same in <br />accordance with the terms of the bid of Mr. Willett, and such <br />other terms and conditions as the City Manager and its City <br />Attorney may deem appropriate. Said property being described <br />as follows: <br /> <br /> Ail those certazn pieces or parcels of <br />land, situate, lying and being in the City of <br />Portsmouth, Virginia, bounded and described as <br />follows: beginning at the southeastern <br />intersection of Wesley Street and Industrial <br />Avenue; thence south along Industrial Avenue <br />approximately 78' to a point; thence east 100' <br />to a point; thence north and parallel with <br />Industrial Avenue approximately 78' to the <br />southern boundary of Wesley Street; thence <br />along the southern boundary of Wesley Street <br />approximately 100' to the point of beginning. <br />Said parcel containing 7,841 square feet. <br /> <br /> <br />