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59 A RESOLUTION AUTHORIZING THE CITY ~L~NAGER TO ACCEPT THE BID OF CLAUDE M. $CIALDONE AND J~,~S E. WALSH, JR. TO PURCHASE CERTAIN C!TY-OI~ED PROPERTY (420, 518-520 SOUTH STREET); AUTHORIZING THE CITY ~NAGER TO CONVEY. WHEREAS, the Council of the City of Portsmouth, Virginia, kas determined that certain property, hereinafter-described, is surplus property and no longer.required by the City for its purposes; and WHEREAS, the Council has, by motion adopted July 8, 1980, authorized the City Manager to advertise this property for sale upon certain terms and conditions; and ?~EREAS, the City ~4anager has caused said property to be advertised in accordance with said motion; and WH~EREAS, Claude M. Scialdone and James~E. Watsh, Jr. have submitted a bid in response to said advertisement to purchase 420 South Street for the sum of One Thousand, ~o Hundred ($1,200.) Dollars for the purpose of office or commercial development within the guidelines of D-1 Zoning or residential to compliment the contiguous property at 426 South Street; and to purchase 518-520 South Street for the sum of One Thousand, Two 51undred Eighty ($1,280.) Dollars for the purpose of office or corm~.ercial develop- ment within the guidelines of D-1 Zoning or residential in con- nection with contiguous property at 522 South'~Street; and WI~EREAS, the City Councils finds, after due consideration, that the said bid Complies fully with the terms of the advertise- ment of said property and that the bid is the highest of all bids received and will permit disposition of the property on terms most favorable to plans for development of the area. NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that the bid of Claude M. Scialdone and James E. Welsh, Jr. to purchase property at 420 South Street~ 518-520 South Street, Portsmouth, Virginia be, and the same hereby is, accepted based on the conditions for use and develop- ment of said property as set forth in the bid. BE IT FURTHER RESOLVED that the City Manager be, and he hereby is, authorized to execute all documents and complete all transactions incident to the conveyance of this property, subject to the terms and conditions set fcrth in said bid and i~ the advertisement for sale of this property by the City. Adopted by the Council of the City of Portsmouth, Virginma, at a meeting held July 22~ 1980. Teste: City Clerk