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R -17 -18 <br />A RESOLUTION AUTHORIZING THE CONVEYANCE OF 3215 ACADEMY <br />AVENUE TO THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY <br />OF PORTSMOUTH, VIRGINIA AND THE EXECUTION OF A DEED, <br />COOPERATION AGREEMENT, AND OTHER DOCUMENTS IN <br />CONNECTION THEREWITH. <br />BE IT RESOLVED by the Council of the City of Portsmouth, Virginia: <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, Virginia (the <br />"EDA ") a deed conveying to the EDA certain property generally known as the former <br />Churchland library and having a street address of 3215 Academy Avenue (Tax Parcel <br />0818- 0040), as authorized by Section 2.03 of the Portsmouth City Charter and Section <br />15.2 -4917 of the Code of Virginia. <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 />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 <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 necessary to implement the intent of this resolution. The City Attorney shall <br />provide all legal representation and assistance needed to implement this resolution. <br />5. The City Manager shall report to Council as needed on the status of the <br />matter. <br />ADOPTED by the Council of the City of Portsmouth, Virginia, at a meeting held <br />on June 27, 2017. <br />Teste: <br />City Clerk <br />