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A ltESOL~i~ION AUTHORIZING ql~E CITY M3~ TO O0~A~/ Ci'i'~-o~D PROPk~RTY TO POPZUS~0UI~ R~D~~ A~D HOUSING AUTHORITY ~%DISCN STRk~'i' AND NINTH_ ~i'). WP/EPJEAS, tm~ deed dated November 7~ 1977, the City acquired the hereinafter-da~cribed property for the purpose of street realigrment in CoDnection ~-ith the Effingham P~develo~uent Project, VAR-72; and W~, said street realighrent has been cc~pleted and the property is no longer needed by the City_ for these purposes and is, hereby, declared to be surplus property; and WBtD~AS, Portsmouth Redevelopment and Housing Authority has p _roposed ~o purchase the property for the sum of Four _~Dmcdred Eighty- Five Dollars ($485.) to be combined with othe/~ property for di~sat to p~te ~ners~bip; and $~, the Council of the City of Port--arb d_~_ms that such disposal of property for private development is Lu the best interest of ~_he City; and ~.THEREAS, Section 2.O9 (C) of the ~larter of t/.ne City of Portsmouth provides that the City may convey real property to t~he Cc~ronwealth of Virginia or a political subdivision t_hereof ,~t~ho~_~ advertisement or reeeipt of bids; and Y,E~JEAS, Portsmouth t~=development and Ho~.~_sing _~mVahority is a political subdivision of the C~i~onweal~h of VirgL~ia. NOgL TI~ORE, BE IT ~SOLVED by t_he Council of the City of Portsmouth, Virginia, that the City iVi3nager be, and he hereby is, authorized to convey t~he hereinafter-described ~ro=ue/~y to PoITiu~fch Rec/evel _opment and Housing Aut~hority for t/ce ~. of Four Hundred Eighty- Pive Dollars ~$485.), to-wit: Ail that certain piece or parcel of i~ud situate, lying, and being in the City of Po~uth, Virginia, bounded and described es follows: Beginning at the North East intersection of Madison Street and Ninth Street; thence NorTh 25e23'54" West along the East line of N/nth Street 15.O8' to a point; thence along a curve to the left having a radius of 170.OO' an arc distance of 62.14' to a point; thence South 25~23'54'' East 0.29' to a point on the Nortb. ern line of l~dison Street; thence along the Northern line of Madison Street a distance of 60.00' to the point of beginning. BE IT FORTHER RESOLVSD that the City ~W~inager be, and he hereby is, authorized to execute such deeds and other documents as may be necessary to complete this transaction.