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AN ORDINANCE CLOSING AND VACATING LAWRENCE CIRCLE. WHEREAS. Portsmouth Gardens Apartments, L.L.C. has requested the closure of Lawrence Circle, as hereafter described in order that it may redevelop and build new apartments on tts property adjacent to said Lawrence Circle; and WHEREAS, the Planning Commission. at a meeting held on February 4, 2003, recommended approval of the closure and vacation of said Lawrence Circle; and WHEREAS, notice of the proposed closure and vacation has been gtven the adjoining property owners in accordance with Section 15.2-2006 of the Code of Virginia, as amended. NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Portsmouth, Virginia that Lawrence Circle be closed and vacated as a public street and right of way as follows: LAWRENCE CIRCLE All of Lawrence Circle which is a semi-circle that runs through the existing apartment complex, said street area measuring approximately 67,200 square feet or 1.543 acres, shown on a copy of Tax Plate 0369. attached hereto. BE IT FURTHER ORDAINED, that the City of Portsmoutb hereby reserves an easement in Lawrence Circle hereby closed and vacated for the installation, operation, maintenance and replacement of public utilities, which said easements may be released, vacated or relocated as needed by the City Manager of the City of Portsmouth as he may in his discretion deem appropriate and in the best interest of the City of Portsmouth. THIS ORDINANCE shall not take effect unless and until the following conditions have been met as set out below: 1. The City of Portsmouth has approved the redevelopment of the Portsmouth Garden Apartments, and has received assurances that necessary financing for the project is in place. 2. All utilities have been removed from the area to be vacated and closed pursuant to this Ordinance as set forth in the reservation herein. 3. The release of easements reserved heroin has been recorded in the Clerk's Office of the Circuit Court of the City of Portsmouth. 4. The City of Portsmouth has received the sum of $35,490.00 as full payment for the area vacated and closed pursuant to this Ordinance. 5. Should these conditions not be met on or before January 1, 2004, then this Ordinance shall become null and void at the option of the Council of the City of Portsmouth.