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15 <br /> <br />A RESOLUTION AUTHORIZING THE CITY ~ANAGER TO CONVEY CITY <br />OWNED PROPERTY TO PORTSMOUTH REDEVELOPMENT AND HOUSING <br />AUTHORITY (EFFINGHAMPROJECT, VAR-72). <br /> <br /> WHEREAS, the City of Portsmouth owns certain <br />property~ hereinafter described, and the City no longer <br />has need of said property; and <br /> WHEREAS, said property is located within the <br /> boundaries of the Effingham Conservation and Redevelopment <br /> Project~ VAR-72; and <br /> WHEREAS, in accordance with the cooperation <br /> agreement between the City of Portsmouth and Portsmouth <br /> Redevelopment and Housing Authority for the Effingham <br />-Conservation and Redevelopment Project, VAR-72, the <br /> fair market value of these parcels may be applied to <br /> the financial obligation of the city of Portsmouth in <br /> connection with said project; and <br /> WHEREAS~ Portsmouth Redevelopment and Housing <br /> Authority is a political subdivision of the common~ealth <br /> of Virginia, thereby eliminating the necessity for further <br /> advertisement of the conveyance of City owned property. <br /> NOW~ THEREFORE, BE IT RESOLVED by the Council <br /> of the City of Portsmouth, Virginia, that the City Manager <br /> ' d <br /> bed and he hereby is~ authorlze to convey the following <br /> described property to Portsmouth Redevelopment and Housing <br /> Authority in consideration of the application of the fair <br /> market value of said property~ as herein stated, to the <br /> financial obligation of the City of Portsmouth toward <br /> completion of the Effingham Conservation and Redevelopment <br /> Project, VAR-72. <br /> Parcel 1: Map Parcel 45-62-15 Value: $1,430.O0 <br /> Said property being part of Lots 82~ 83 and 90~ on the Plat <br /> of property owned by Jo C. P- Edwards, deceased, which plat <br /> is recorded in the Clerk's Office of the Circuit court of <br /> Norfolk County~ Virginia~ in Map Book 4, at page 41, and <br /> being more particularly described as follows: Beginning <br /> at the southeastern corner of Madison Street and Green <br /> Street~ thence easterly along the southern side of Madison <br /> Street 9 feet by scale to a point; thence running southerly <br /> and perpendicular to the southern side of Madison Street <br /> 121 feet to the center line of the block; thence westerly <br /> <br /> <br />