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R-16-09 <br />A RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE A <br />MEMORANDUM OF UNDERSTANDING WITH THE PORTSMOUTH PORT AND <br />INDUSTRIAL COMMISSION AND VARIOUS OTHER DOCUMENTS RELATED TO <br />3930 BURTON'S POINT ROAD. <br />WHEREAS, at the request of the City, Portsmouth Port and Industrial Commission <br />(PPIC) took title to the former Portsmouth Public Schools maintenance facility property at 3920 <br />Burton's Point Road and made the property available for use by the U.S. Environmental <br />Protection Agency (EPA) in conjunction with the Atlantic Wood Industries Superfund Site <br />remediation, with the overall strategic goal of maximizing future revitalization, tax revenue, and <br />employment potential in the area; and <br />WHEREAS, PPIC has made an offer to purchase adjacent property at 3930 Burton's <br />Point Road (Tax Parcel 0387-0030) for its assessed value; and <br />WHEREAS, the revitalization, tax revenue, and employment potential in the area will be <br />further increased if PPIC is able to acquire the property at 3930 Burton's Point Road and <br />incorporate it into the_Atlantic Wood Superfund remedy on substantially similar terms as apply <br />to the former School property; <br />NOW THEREFORE BE IT RESOLVED by the Council of the City of Portsmouth, <br />Virginia that the City Manager is hereby authorized to execute a Memorandum of Understanding <br />with PPIC to support the acquisition of 3930 Burton's Point Road and to execute other <br />agreements with PPIC, EPA and/or the Virginia Department of Environmental Quality to <br />incorporate 3930 Burton's Point Road into the Atlantic Wood Superfund remedy on substantially <br />the same terms as apply to the former School property. <br />ADOPTED by the Council of the City of Portsmouth, Virginia at a meeting held on <br />March 22, 2016. <br />Teste: <br />City Clerk <br />