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R -20 -42 <br />A RESOLUTION AUTHORIZING THE EXECUTION OF A COOPERATION <br />AGREEMENT WITH THE ECONOMIC DEVELOPMENT AUTHORITY <br />REGARDING THE MARKETING AND DEVELOPMENT OF 2 HARBOR <br />COURT, 3 HARBOR COURT, AND 2 CRAWFORD PARKWAY, AND <br />FURTHER AUTHORIZING THE CONVEYANCE OF THE SAID PROPERTIES <br />TO EDA. <br />WHEREAS, the Economic Development Authority has acquired 8 Crawford <br />Parkway (Tax Parcel 0004 - 0022), commonly known as the "Holiday Inn Parcel "; and <br />WHEREAS, the EDA intends to engage in an RFQ/RFP process to solicit <br />development of the Holiday Inn Parcel; and <br />WHEREAS, to maximize quality, scope and revenue it is anticipated that the <br />Harbor Court Garage Parcel (2 Harbor Court, Tax Parcel 0004 - 0030), the Visitor Center <br />Parcel (3 Harbor Court, Tax Parcel 0004 - 0050), and a portion of the Portside Parcel (2 <br />Crawford Parkway, 0004 -0020) may be included as part of the same development; and <br />WHEREAS, the City currently owns the Harbor Court Garage Parcel, the Visitor <br />Center Parcel, and the Portside Parcel; and <br />WHEREAS, so that the site can be marketed as a whole it is desirable to <br />authorize the execution of a Cooperation Agreement between the City and EDA and the <br />conveyance of the said parcels to EDA; and <br />WHEREAS, the Cooperation Agreement provides that the properties will not be <br />conveyed by EDA for development without the consent of City Council; <br />NOW, THEREFORE, BE IT RESOLVED by the Council of the City of <br />Portsmouth, Virginia: <br />1. That it approves and authorizes the conveyance of 2 Harbor Court, 3 <br />Harbor Court, and 2 Crawford Parkway to the Economic Development Authority, and <br />authorizes the City Manager to execute Deeds and such other instruments as may be <br />required to convey the said properties. <br />2. That the City Manager is authorized and directed to enter into a <br />Cooperation Agreement between the City and EDA, in a form substantially similar to <br />Exhibit A attached hereto. <br />ADOPTED by the Council of the City of Portsmouth, Virginia, at an electronic <br />meeting held on December 8, 2020. <br />Teste: <br />City Clerk <br />