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R -20 -37 A RESOLUTION AUTHORIZING THE CITY MANAGER TO RELEASE EASEMENTS AND OTHER PROPERTY INTERESTS OF THE CITY OF PORTSMOUTH IN FURTHERANCE OF THE PROPOSED ENTERTAINMENT DISTRICT DEVELOPMENT. WHEREAS, Rush Street Gaming has proposed to develop an entertainment district, to include a casino, hotel /conference center, and other entertainment uses (the "Development ") on certain property owned by the Economic Development Authority and generally bounded by Victory Boulevard, I -264, McLean Street and Greenwood Drive (the "Property "); and WHEREAS, on November 3, 2020 the citizens of Portsmouth authorized the development of a casino gaming establishment in the city, and the Development will accordingly proceed, and WHEREAS, the Property is encumbered by several easements and other agreements conferring property rights in which the City has an interest, including without limitation for utilities and stormwater management; and WHEREAS, in order for the Development to be designed and constructed, it will be necessary to release some or all of the City's rights in the Property, and to accept substitute easements that better match the site plan for the buildout of the Development; NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that the City Manager is hereby authorized to vacate and release any or all rights of the City in or to the Property at such time as he may in his discretion deem appropriate and in the best interest of the City of Portsmouth, to execute and deliver such documents and instruments as may be necessary or desirable to effectuate any such vacation and release, and to accept on behalf of the City such substitute easements or other property rights as may be necessary or desirable to protect the City's interests. ADOPTED by the Council of the City of Portsmouth, Virginia, at an electronic meeting held on November 24, 2020. Teste: City Clerk