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R-OB-38 A RESOLUTION RESCINDING RESOLUTION R-07-20 CONCERNING ACQUISITION OF REAL PROPERTY WITH THE STREET ADDRESS OF 1128 HARRELL STREET, COMMONLY KNOWN AS THE "CRAB SHACK." WHEREAS, Portsmouth City Council did on May 22,2007 adopt Resolution R-07-20, concerning acquisition of real property with the street address of 1128 Harrell Street, commonly known as the "Crab Shack" (the "Property"); and WHEREAS, at the time said Resolution was adopted, the Property had long been run- down, poorly maintained, unpainted, decayed, disorderly, littered with debris, sunken boats, rusted industrial equipment, and scrap materials, and it comprised a material source of blight that was harming the quality of life in the Park View neighborhood; and the City desired to aquire it in part to eliminate said blight and in part to create a public park that would benefit all the nearby neighborhoods and the public at large; and WHEREAS, since enactment of said Resolution, extended negotiations with the owner of the Property, together with the preparation for legal action to acquire the property by eminent domain, have resulted in correction and abatement of most of the aforesaid blighting conditions; and WHEREAS, since the adoption of said Resolution, economic changes have changed so as to place significantly increased financial stress on the City; and the funds that had been allocated to acquire this property are now needed for various other pressing and important public purposes; NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia: 1. That Resolution No. R-07-20 is hereby rescinded, and it shall be of no further force or effect. 2. That the need for a public park serving Park View and the nearby neighborhoods and providing general public access to the water is hereby reaffirmed. ADOPTED by the Council of the City of Portsmouth, Virginia, at a meeting held on September 23, 2008. Teste: City Clerk