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~. ~No~ber 25 1997_ <br /> <br /> Motion by Mr. Pitts, and seconded by Mr. Clemons, to adopt the <br />following ordinance, and was adopted by the following vote: <br /> <br /> "ORDINANCE TO APPROPRIATE $2,088,000 IN THE CAPITAL <br />IMPROVEMENTS FUND FOR PHASE II OF THE COMPUTERIZED TRAFFIC <br />SIGNAL SYSTEM." <br /> <br />Ayes: Benn, Clemons, Griffin, Martin, Pitts, Robinett, Holley <br />Nays: None <br /> <br />97-311 Adoption of an ordinance to appropriate $500,000 in the Capital <br /> Improvements Fund for the purchase of Portsmouth General Hospital <br /> from its owner, Maryview Hospital. <br /> <br />Recommendation: <br /> <br />251 <br /> <br />Adoption of an ordinance appropriating $500,000 in the Capital <br />Improvements Fund for the purchase of Portsmouth General Hospital from <br />its owner, Maryview Hospital. <br /> <br />Purpose and Need: <br /> <br />City Council has previously authorized the City Manager to enter into a <br />contract for purchase of the Portsmouth General for the appraised value of <br />the land only of 8.04 acres. <br /> <br />The appraisal ha~. been completed and the estimated fair value determined <br />to be $~00,000, which establishes the purchase price and requires <br />appropriat on <br /> <br />· Maryview will continue to lease the hospital from the City for up to thirteen. <br /> months at a cost of $5,000 per month. <br /> <br />· At the end of the lease, Maryview will, at its "sole cost and expense," clear <br /> the site. <br /> <br />Financial Impact: <br /> <br />· Total Purchase Price $500,000 <br />· Rental Payments 65,000 <br /> <br />· Net amount to be funded through1999 CIP $435,000 <br /> <br />This item will be included as an item for funding in the 1999 ClP but <br />appropriation is required at this time, as the closing of the sale must be <br />completed prior to December 31, 1997 in order for Maryview to be eligible <br />for Federal funding for demolition of the building. <br /> <br /> Motion by Mr. Robinett, and seconded by Mr. Martin, to amend the <br />amount of the cost to $507,492.66, and was adopted by unanimous vote. <br /> <br /> Motion by Mr. Pitts, and seconded by Mr. Martin, to adopt the following <br />ordinance, and was adopted by the following vote: <br /> <br /> "ORDINANCE TO APPROPRIATE $507,492,66 FROM THE CAPITAL <br />IMPROVEMENT FUND FOR THE ACQUISITION OF PORTSMOUTH GENERAL <br />HOSPITAL." <br /> <br />Ayes: Benn, Clemons, Griffin, Martin, Pitts, Robinett, Holley <br />Nays: None <br /> <br /> <br />