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30 A RESOLUTION AUTHORIZING THE CITY MANAGER TO CONVEY PROPERTY TO THE INDUSTRIAL DEVELOPMENT AUTHORITY (DETROIT STREET AT LEE AVENUE). WHEREAS, the City of Portsmouth owns certain real propHrty located at the northeast intersection of Detroit Street and Lee Avenue, which property is no longer required for the use of the City and is, hereby, declared to be excess property; and WHEREAS, the Industrial Development ~uthority has made an effer to purchase said property for the purpose of combining the same with adjacent property for development of Industrial and Port related business; and WHEREAS, the Industrial Development Authority has agreed to pay the sum of Twelve Thousand Dollars ($12,00~) for said property; and WHEREAS, ~2.09 (c) of the Charter of the City of Portsmouth provides that property may be conveyed to the Commonwealth of Virginia or a political subdivision thereof without advertisement or receipt of bids; and WHEREAS, the Industrial Development Authority is a political subdivision of the Commonwealth of Virginia. NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that the City Manager be, and he hereby is, authorized to convey the hereinafter-described property to the Industrial Development Authority of the City of Portsmouth for the sum of Twelve Thousand Dollars ($12,000). Ail that certain piece or parcel of land, situate, lying and being in the City of Ports- mouth, Virginia, bounded and described as follows: Beginning at the northeast intersection of Detroit Street and Lee Avenue; thence in an east- erly direction along the northern boundary of Detroit Street 200' to the northwest intersection of Detroit Street and Industrial Avenue; thence north along the western boundary of Industrial Avenue 75' to a point; thence west and parallel with Detroit Street 200' to the eastern boundary of Lee Avenue; thence south along the eastern boundary of Lee Avenue 75' to the Point of Be- ginning.