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<br />COOPERATION AGREEMENT <br />for <br />OLD CHURCHLAND LIBRARY <br /> <br />THIS COOPERATION AGREEMENT (the "Cooperation Agreement") is entered into <br /> <br />as of the _ day of <br /> <br />,2011, by and between THE CITY OF PORTSMOUTH, <br /> <br />VIRGINIA, a political subdivision ofthe Commonwealth of Virginia (the "City") and the <br /> <br />ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF PORTSMOUTH, a <br /> <br />political subdivision of the Commonwealth of Virginia (the "EDA"), provides as follows: <br /> <br />RECITALS <br /> <br />WHEREAS, the property commonly known as the Old Churchland Library, containing <br /> <br />approximately .535 acres and a 5,873 square foot building, with the individual street address of <br /> <br />3215 Academy Avenue is presently vacant, and <br /> <br />WHEREAS, the City has determined that it would be in the public interest to have the <br /> <br />Property sold for private use in a way that complements and protects community quality; and <br /> <br />WHEREAS, the City hereby finds and determines that sale of the Property would be in <br /> <br />the public interest; <br /> <br />NOW, THEREFORE, it is AGREED by the parties to cooperate in the sale of the <br /> <br />Property as follows: <br /> <br />AGREEMENT <br /> <br />1. The Sale is hereby approved and endorsed by the City; provided that said official <br /> <br />action does not make the City a party to said sale nor does it create any duties or liabilities on <br /> <br />behalf of the City. <br /> <br />2. The EDA shall issue a brief RFP offering the property for sale to all interested <br /> <br />1 <br />