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<br />R-13-52 <br /> <br />A RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE A <br />COOPERATION AGREEMENT, DEED, AND ANY OTHER DOCUMENTS AS <br />MAY BE NECESSARY TO CONVEY THOSE PROPERTIES BOUNDED BY <br />PORTSMOUTH FIRE STATION NO.1, EFFINGHAM STREET, LINCOLN <br />STREET, AND GREEN STREET AND ANY ASSOCIATED EASEMENTS OR <br />REMNANT PARCELS AS MAY BE DETERMINED NECESSARY TO THE <br />ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF <br />PORTSMOUTH. <br /> <br />BE IT RESOLVED by the Council of the City of Portsmouth, Virginia: <br /> <br />1. The City Manager is hereby authorized and directed to execute and deliver <br />unto the Economic Development Authority of the City of Portsmouth (the "EDA") a deed <br />conveying to the EDA certain properties bounded by Portsmouth Fire Station No.1, <br />Effingham Street, Lincoln Street, and Green Street and any associated easements or <br />remnant parcels as he may determine necessary, as authorized by Section 2.03 of the <br />Portsmouth City Charter and Section 15.2-4917 of the Code of Virginia. <br /> <br />2. The purpose of the conveyance is to allow the EDA to facilitate private <br />rehabilitation or redevelopment of the property in a way that enhances community quality <br />and expands the City's tax base. The City Council hereby finds and determines that a <br />conveyance for these purposes is in the public interest. <br /> <br />3. Prior to delivery of an executed deed or deeds to the EDA, the City <br />Manager is directed to enter into a Cooperation Agreement between the City and EDA, in <br />a form substantially similar to Exhibit A, attached hereto and made a part hereof, that <br />requires that the proceeds from any sale of the property by EDA will be distributed in <br />such manner as determined by City Council at a future date. <br /> <br />4. The City Manager is hereby authorized to take such further actions, <br />execute such additional documents, and grant such further assurances as may be <br />reasonably p.ecessary to implement the intent of this resolution. The City Attorney shall <br />provide all legal representation and assistance needed to implement this resolution. <br /> <br />5. <br />matter. <br /> <br />The City Manager shall report to Council as needed on the status of the <br /> <br />ADOPTED by the Council of the City of Portsmouth, Virginia, at a meeting held <br />on November 12,2013. <br /> <br />Teste: <br /> <br />City Clerk <br />