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<br />. <br /> <br />. <br /> <br />. <br /> <br />The CDA Board shall have the powers and duties set forth in the Act and in these <br />Articles of Incorporation and the By-Laws, to the extent that such powers and duties are not <br />inconsistent with the Act. <br /> <br />Article IV <br /> <br />PrinciDal Office <br /> <br />The CDA's principal office shall be c/o Portsmouth Venture One, L.L.C., 448 Viking <br />Drive, Suite 220, Virginia Beach, Virginia 23452. The CDA may conduct its business and <br />maintain offices for such purposes at such other places within or without the City of Portsmouth, <br />Virginia as may from time to time be deemed advisable by the CDA Board, and not in conflict <br />with the requirements ofthe Act. <br /> <br />Article V <br /> <br />Authority District <br /> <br />The land initially encompassed within the CDA is set forth in Attachment B attached <br />hereto (the "Authority District") provided that the City Manager, upon the request of the CDA, <br />may modify the boundaries of the Authority District, to permit exchanges of certain property <br />included in the District for property owned by the City and/or the School Board of the City and <br />located within the perimeter of the District (but not included in the Authority District on the date <br />hereof), up to 3 acres. The CDA may release and exclude from the Authority District portions of <br />land with respect to which all special assessments have been paid or prepaid. <br /> <br />Article VI <br /> <br />PurDoses and Powers <br /> <br />The CDA is organized for the purpose of exercising all powers granted by the Act, <br />including without limitation, financing, funding, planning, establishing, acquiring, constructing <br />or reconstructing, enlarging, extending, equipping, developing, operating, owning and <br />maintaining all or a portion of the infrastructure improvements generally described in the <br />Petition attached hereto creating the CDA. The CDA shall have all powers granted to a <br />"community development authority" under the Act. <br /> <br />Article VII <br /> <br />Not-for-Profit <br /> <br />The CDA shall not be organized or operated for pecuniary gain or profit. No part of the <br />net earnings of the CDA shall inure to the benefit of, or be distributable to any member, director, <br />officer, or any other private person, except that the CDA shall be authorized and empowered to <br />