Laserfiche WebLink
R-26-02 <br />A RESOLUTION TO APPROVE A COOPERATION AGREEMENT WITH THE <br />ECONOMIC DEVELOPMENT AUTHORITY IN FURTHERANCE OF THE PUBLIC <br />SOLICITATION OF DEVELOPERS FOR THE CRAWFORD BAY SITE. <br />WHEREAS, the Crawford Bay site is one of the most attractive development sites in the <br />Hampton Roads area; and <br />WHEREAS, City Council conclusively finds and determines that the private <br />development of the Crawford Bay site will result in increased real estate tax revenue, as well as <br />increased employment opportunities and available housing stock, and is therefore in the public <br />interest; and <br />WHEREAS, the Economic Development Authority of the City of Portsmouth, Virginia <br />intends to begin the process of soliciting a developer for the site and a Cooperation Agreement <br />has been prepared to govern the respective responsibilities of City Council and EDA during the <br />solicitation process; <br />NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, <br />Virginia, that it hereby approves the Cooperation Agreement in substantially the form attached <br />hereto as Exhibit A and authorizes the City Manager to execute the Cooperation Agreement on <br />behalf of the City. <br />ADOPTED by the Council of the City of Portsmouth, Virginia, at a meeting held on <br />January 27, 2026. <br />Teste: <br />City Clerk <br />