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June 12th, 1962
<br />
<br />(3)
<br />
<br />Mr. McDowell muse provide and maintain at his expense personal injury
<br />liability insurance of not less than $100,000.00 for each person and
<br />$300,000.00 for any one accident, and property damage insurance of
<br />less than $5,000.00 for each accident, with the City as an additional
<br />named insured with waiver of governmental immunity covering use of
<br />City-owned properEy.
<br />
<br /> Motion of
<br />without dissenting voEe.
<br />
<br /> 62-121
<br />received on June 8th, 1962.
<br />
<br />Mr. Dillon 5o concur in the recommeudation of the City Manager was adopted,
<br />
<br />"Bids for City-owned land located at the north end of Crawford Street were
<br />
<br />For Parcel 'A' John C. Wright bid $150,000.00 and submitted tentative plans
<br />
<br />for the construction of a motor hotel and marina at the cos5 of $1,500,000.00.
<br /> For Parcel 'B' Bush Realty Corporation bid $20,000.00 and proposes Lo erecL
<br />on this and the adjoining land which it controls a high rise apartment building with a minimum of ten stories
<br />in height, eighty dwelling units and costing no5 less than $1,250,000.00~
<br /> A few of the benefits 5o be derived from this proposal are as follows: (1) It will replace a now obsolete facility.
<br /> (2) It will increase the revenue of the City (real estate, personal
<br /> properEy, business licenses, eec.)
<br /> (3) It will provide excellent housing ro the community.
<br /> (4) It will give Portsmouth a convention cenLer.
<br /> (5) It will greatly assist Portsmouth in developing its tourist industry.
<br /> I recommend that Parcel 'A' be sold 5o John C. Wright and Parcel 'B' 5o
<br />Bush Realty Corporation, in accordance with the terms submitted in their bids and notice of sale."
<br />
<br />The bids are as follows:
<br />
<br /> "Attached is a certified check, for $15,000.00 as a deposit so apply Lo the pur-
<br />chase price of $150,000.00 on ~arcel A as described in your newspaper advertisement of May 25 through 29, 1962,
<br />marked in red on the attached plat. Should I be the successful bidder, I, or my assigns, shall consLruct a
<br />Motor Hotel and Marina at a cost of $1,500,000.00. Enclosed are tentative plans and rendering of the proposed
<br />improvements. It is my understanding that in event the improvements are not started within 30 months, you may
<br />demand return of the property and the $15,000.00 deposit will be forfeited as liquidated damages.
<br /> I am prepared to make the $100,000.00 bond as your advertisement calls for 5o be
<br />put up with you at the time the construction is started as a guarantee of completion of the construction.
<br /> In any event, title to the properly shall be insurable by s recognized Title in-
<br />surance company without exception, except as to easements now existing, and that the City of Portsmouth will
<br />join in the execution of any instrument so make it possible for the purchase~ co place a valid construction
<br />loan and first deed of 5rust on the properly when consEruction is conlmenced.
<br /> It is also un~derstood that the City of Portsmouth will agree, as a condition of
<br />sale, that it will a5 its sole expense, construct and open for public use the proposed street connecting Craw-
<br />ford Street and Washington Street, as shown on said drawing, within one year from the closing of the sale.
<br />During that period, the City will provide bulkheading from the Swimming Point Walk area eastward 5o Point "Z"
<br />as shown on said drawing, and I, or my- assigns, shall at their expense simultaneously and at the direction of
<br />the City of Portsmouth continue said bulkheading eastward from said Point "Z" to a point on the existing bulk-
<br />head at a point on high ground ease of the eastern line of Crawford Street as located prior to closure of that
<br />sEreet. The City of Portsmouth will thereafter fill the area south of said bulkhead to a level not less than
<br />the high ground adjacenE, and each party~ his successors and assigns, shall maintain the bulkhead on his prop-
<br />erEy in such a manner as Lo prevent damage 5o the land and properEy of the other party.
<br /> It is also understood and agreed that Parcel A is sow zoned commercial and a
<br />Motor Hotel and Marina can be built under such zoning on the property and such commercial zoning will not be
<br />changed.
<br /> I am looking forward to a successful business venEure in your fine City and I
<br />will be happy to cooperate with you in the future if my bid is accepted. Signed: John C. Wright.
<br />
<br /> "the undersigned hereby bids the sum of Twenty Thousand dollars ($20,000) for
<br />Parcel B, as shown on the accompanying map, of the real estate advertised in the Virginian Pilot - Portsmouth
<br />Section, May 25th thru May 29th, 1.962, under heading "Sale of Real Estate Suitable for Marina, Motel and Apart-
<br />ment DevelopmenE.
<br /> A cashier's check for Two Thousand Dollars ($2,000) attached 5o the outside enve-
<br />lope of this bid is tendered herewith as the required deposit to be forfeited as liquidated damages in the
<br />event of failure of the undersigned to comply with the conditions of your offer.
<br /> Il this bid is accepted by the City, the undersigned proposes to erect on this,
<br />and the adjoining land which it controls, a high rise aparEment building, the minimum to be as follows: ten
<br />stories in height, eighty dwelling units, costing no5 less than One Million Two Hundred Fifty Thousand Dollars
<br />(Si,g50,000).
<br /> Should Bush Realty Corporation receive the award, it will be assigned to s
<br />corporation sponsored by George T. McLean of Portsmouth, Virginia, and Ralph E. Bush of Norfolk, Virginia, who
<br />have demonstrated their ability to creaLe successful multi-family rental projects. We enclose herewith a
<br />rendering of a building comparable to and similar 5o the one proposed for this property, recently built by one
<br />of the sponsors. Slgned: Ralph g Bush, PresidenL, Bush Realty Corporation."
<br />
<br /> Motion of Mr. Knight to approve the recommendation of the City Manager was adopted,
<br />without dissenting voEe.
<br />
<br />for use as a library.
<br />
<br /> 62-122 -
<br />The following bids were received:
<br /> Joe Tugwell Construction Company
<br /> F. A. Duke, Co., Inc.
<br /> Shirley Construction Corporation
<br /> J. L. Smith Corp.
<br /> J. B. Denny, Jr.
<br /> W. B. Meredith II, Inc.
<br /> J. L. Coe Construction Co., Inc.
<br />
<br />"Bids were opened on June 5tb, [962 for the remodeling of the old Post Office
<br />
<br />$206 324.00
<br />216 472.00
<br />225 000.00
<br />219 4m7.00
<br />239 843.00
<br />210 435.00
<br />227 870.00
<br />
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