Laserfiche WebLink
EXHIBIT A <br />COOPERATION AGREEMENT <br />for <br />HARBOR COURT AND PORTSIDE PROPERTIES <br />THIS COOPERATION AGREEMENT (the "Agreement ") is entered into as of the <br />_ day of , 2020 by and between CITY OF PORTSMOUTH, <br />VIRGINIA, a political subdivision of the Commonwealth of Virginia ( "City ") and <br />ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF <br />PORTSMOUTH, VIRGINIA, a political subdivision of the Commonwealth of Virginia <br />( "EDA "). <br />RFMALS <br />WHEREAS, by Resolution R -20- adopted December 8, 2020, City Council <br />authorized the conveyance of certain property having current street addresses of 2 Harbor <br />Court (Tax Parcel 0004- 0030), 3 Harbor Court (Tax Parcel 0004 - 0050), and 2 Crawford <br />Parkway (Tax Parcel 0004 -0020) to EDA (the "City Property "); and <br />WHEREAS, EDA has acquired 8 Crawford Parkway (Tax Parcel 0004 -0022) (the <br />"EDA Property ") and intends to undertake an RFQ/RFP process for development of the <br />property; and <br />WHEREAS, the City enters into this Agreement so that the City Property and the <br />EDA Property can be marketed together to maximize the development potential of the <br />property; <br />WHEREAS, the City hereby finds and determines that redevelopment of the City <br />Property and the EDA Property is in the public interest; <br />NOW, THEREFORE, it is AGREED by the parties to cooperate in the <br />conveyance and redevelopment of the Property as follows: <br />AGREEMENT <br />EDA is authorized to market the City Property and the EDA Property for <br />development. <br />2. The City Manager is authorized to execute one or more Deeds and any <br />other necessary instruments to cause the City Property to be conveyed to EDA. <br />3. EDA shall not convey the City Property and EDA Property for <br />development unless and until City Council has consented to the development. <br />