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A RESOLUTION'ACCEPTING THE OFFE~ OF DAIL'S SEAFOOD TO PURCHASE <br />CITY PROPERTY; AUTHORIZING THE CITY MANAGER TO ENTER INTO A <br />DEVELOPMENT AGREEMENT FOR THE PURCHASE AND DEVELOPMENT OF <br />CITY PROPERTY ON INDUSTRIAL AVENUE. <br /> <br /> WHEREAS, the City owns certain hereinafter-described real <br />property, which property is not required for public purposes <br />and is, hereby, declaredto be excess property; and <br /> <br /> WHEREAS, said property has been advertised for sale and <br />development as required by Section 2.09 of the Charter of the <br />City of Portsmouth; and <br /> <br /> WHEREAS, Dail's Seafood. has submitted a proposal for <br />purchase of Said property for the sum of $12,632¥00; and to <br />construct a 2,500-3,000 square foot concrete ah-d steel <br />buildfng for the operation of a retail and wholesale seafood. <br />business; and <br /> <br /> WHEREAS, the City Council deems it to be in the best <br />interest of the C~ty tha~ said property be developed in this <br />manner; and <br /> <br /> WHEREAS, the City and the developer shall enter into an <br />agreement pertaining to the specific plans for construction <br />and to insure orderly development of the subject property. <br /> <br /> NOW,_THEREFORE, BE IT RESOLVED by the Council of the City <br />of~Portsmoutk, Virginia, that the 6ffer of Dail's Seafood to <br />purchase the hereinafter-described City property be accepted. <br />Said property being more particularly described as follows: <br /> <br /> Beginning at a point on the east side of <br />Industrial Avenue, said point being 150' south <br />of the southeast intersection of ~ndustrial <br />Avenue and Wesley Street; thence continuing <br />south along Industrial Avenue 125', more or <br />less, to a.point; thence east and parallel <br />with Wesley Street 100', more or less, to the <br />property now o~ formerly owned by Elizabeth <br />River Tunnel District; thence north and <br />parallel with Industrial Avenue 125', more or <br />less, to a point; thence west and parallel <br />with Wesley Street 100', more or less, to the <br />point of beginning. <br /> <br /> BE IT FURTHER RESOLVED that the City Manager. be, and he <br />hereby is, authorized to enter into a development agueement <br />~pertainlng to the terms of purchase and development of said <br />property and to sign such deeds or other documents as may be <br />necessary tO complete this transaction. <br /> <br /> <br />