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A RESOLUTION AUTHORIZING THE CITY ~NAGER TO CONVEY CiTY- OWNED PROPERTY TO THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PORTSMOUTH (VIRGINIA AVENL~E AND CLEVELAND STREET). WHEREAS, the City of Portsmouth owns certain hereinafter- described real property located at the northwest corner of Virginia Avenue and Cleveland StreetF which property is no longer required by the City of Portsmouth for its use and purposes and is hereby declared to be excess property; and ~HEREAS, the Industrial Development Authority of the City of Portsmouth is in the process of marketing this property for industrial and con~mercial development in connection with the adjacent port facilities; and ' W~EREAS, the assessed value of said property is $17,OO0., whick the Industrial Development Authority of the City Portsmouth has agreed to pa~; and ¥~qER~AS, pursuant to S2.O9(c) o~ the Charter of the City of Portsmouth,' real property may be conveyed to the "~-Con~onwea!th of Virginia or a political subdivision thereof without advertisement and receipt of bids; and WHEREAS, the Industrial Development Authority of the City of Portsmouth ms a political subdivision of the Co~mon- wealtk of Virginia. NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that the City Manager be~ and he hereby ms, authorized tO convey the hereinafter-described property to the Industrial Development Authority of the City of Portsmouth, Virginia, upon receipt of the sum of $17,OO0.. Said property is described as follows, to-wit: All those ce_tal~ lo~s, pmeces or parcels of land, with the buildings and improvements thereon, situate, lyi] of Portsmouth, ¥irgin~ and des±gnated as Lot~ and.2263, as shown on "Plat Of Port Norfelk~ in the Clerk's Office the City of Chesapeak~ ~g and being in the City .a, being know, n, numbered 2259, 2260, 2261, 2262, that certain pla% entitteo~ · which plat is recorded of the Circuit Court of ~, Virginia~ in Map Book 4, pages 70 and 71~ r~ference to which plat is · ' hereby made for a ~ore particular description of said property.