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10 A RESOLUTION AUTHORIZING THE CITY MANAGER TO CONVEY CITY-OICNED PROPERTY (SEABOARD COASTLINE BUILDING) TO PORTSMOUT~ REDEVELOP- ~NT AND HOUSING AUTHORITY SUBJECT TO THE TE~4S AND CONDITIONS OF THE DEVELOP~MENT AGREEMENT. WHEREAS, the City owns certain hereinafter-described real property and improvements thereon which property and improve- ments are no longer needed by the City and are hereby declared to be surplus property; and WHEREAS, the City, Portsmouth Redevelopment and Housing Authority and Seaboard Coastline Associates have entered into a development agreement dated October 3, 1984, for acguisition and reconstruction of said property and improvements;-and WHEREAS, Section 2.09 of the Charter of the City of Ports- mouth provides that property may be conveyed to the Commonwealth of Virginia or a political subdivision thereof without advertise- ment or receipt of bids; and WHEREAS, Portsmouth Redevelooment & Housing Authority is a political subdivision of the Commonwealth of Virginia; and WHEREAS, Portsmouth Redevelopment & Housing Authority has, by due notice and advertisement, requested proposals for the acquisition, use, and development of said property and has re- commended the approval of the plan of Seaboard Coastline Assoc- iates; and .WHEREAS, the said acquisition, use and development plans have been included in the above-referenced development agree- ment. 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 ~onvey that certain City-owned property kno~cn as the Seaboard Coastline Building as described on the attach- ment hereto marked "Exhibit A" to Portsmouth Redevelopment and Housing Authority subject to the terms and conditions of a certain development agreement between the City, Portsmouth Re- development and Housing Authority, and Seaboard Coastline Assoc- iates, dated October 3, 1984, as amended, and subject to the conditions and restrictions of record pertaining thereto. BE IT FURTHER RESOLVED that the City Manager be, and he hereby is, authorized to sign such deeds or other documents as may be necessary to complete this transaction.