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<br />R-10-13 <br /> <br />A RESOLUTION AUTHORIZING A MEMORANDUM OF INTENT WITH <br />PORTSMOUTH CITY CENTER, LLC, CONCERNING THE PROPOSED <br />PORTSMOUTH CITY CENTER DEVELOPMENT PROJECT. <br /> <br />BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that the City <br />Manager is authorized, acting for and on behalf of the City, to execute and deliver a <br />Memorandum of Intent with Portsmouth City Center, LLC, substantially the same as that which <br />is attached hereto, concerning the proposed Portsmouth City Center Development Project. <br /> <br />BE IT FURTHER RESOLVED that the City Manager and City Attorney are further <br />authorized to take such other and further actions as may be necessary to implement the intent of <br />this resolution including without limitation negotiation of a legally binding Development <br />Agreement that may be considered by City Council for official approval. The City Manager and <br />City Attorney shall keep Council regularly informed concerning the status of this matter, <br /> <br />This resolution shall be effective immediately upon its adoption, <br /> <br />ADOPTED by the Council of the City of Portsmouth, Virginia, at a meeting held on <br />April 27, 2010. <br /> <br />Teste: <br /> <br />City Clerk <br />