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73 A RESOLUTION AUTHORIZING THE CITY MANAGER TO CONVEY CERTAIN CITY-OWNED PROPERTY TO THE PORTSMOUT~ INDUSTRIAL DEVELOPMENT AUTHORITY (302-304 HIGH STREET AND 408-410 MIDDLE STREET) · ~3~EREAS, by deed dated April It 1977 from Virginia Bo Syer~Virginia Syer Lewis, Charlotte KG Syer~ Catherine Fontaine Syer and Lee Co Syer~ II~ the hereinafter described property was donated to the City of Portsmouth~ Virginia~ and WHEREAS, said hereinafter described property comprises twenty nine percent (29%) of %he building formerly occupied by Grant's Department Store on High Street; and WHEREAS~ negotiations have been commenced, with a perspective purchaser of this property for rehabilitation and occupancy of the building thereon; and WHEREAS, the Portsmouth Industrial Development Authority is a political subdivision of the Commonwealth of Virginia~ and WHEREAS, Section 2.09(c) of the Charter of the City of Portsmouth provides that the City may convey property %o the Commonwealth of Virginia, or any political subdivision thereof, without advertisement and withou~ receiving bids~ and WHEREAS, the Cit~ of Portsmouth has no requirements for the use of said property and it is, therefore~ declared to be surplus property. NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that the City Manager be, and he hereb~ is, authorized to convey the following described property to the Portsmouth Industrial Development Authority: All that certain piece or parcel of land, with the buildings and improvements thereon, and all the rights, privileges and appurtenances %hereunto belonging, situate, lying and being in the City of Portsmouth, Virginia, known according to the street numbering system of the City of Portsmouth as 302-304 High Street and 408-410 Middle Street, more particularly bounded and de- scribed as follows: