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by the increased taxable values created by the location of such new industry a£ter the per-
<br />iod of exemption has expired, and,
<br /> WHEREAS, I.F~ Laucks, Incorporated, of Seattle, washington, is contemplating using
<br />certain property located on Broad street and Mount Vernon Avenue, at the corner of Commerce
<br />Street, assessed on the Land Books of the Oity of Portsmouth to Noland Oompany, Incorporated,
<br />
<br />as follows:
<br />
<br />635-36-3~T38-323-25-25-326 W-Side Broad St.,
<br />634 W. S~de of Broad Street
<br />82? East side Mount Vernon Avenue
<br />
<br />$20,500.00 Tax $5~3.25
<br />300.00 Tax 7.95
<br />200.00 Tax 5.30
<br />
<br />as a manufacturing establishment for the purpose of processing soya beans and manufacttuving
<br />therefrom oils and soya bean meal, and,
<br /> WHEREAS, It appears that such manufacturing establishment will not compete with any
<br />existing establishment or industry in the Oity of Portsmouth~and that it will be advisable as
<br />an inducement for the location of said industry in this city to exempt the said land and
<br />buildings from local taxation for the years 1933 and 193$, if the plant of said I.F. Laucks,
<br />Incorporated, continues in operation dnring said period, and that the loss of revenue due to
<br />such exemption will be more than compensated by the increased taxable value created by the
<br />location of such new industry after the said period of exemption has expired,
<br /> NOW, ~HEREFORE, BE IT RESOLVED BY THE OOUNOIL OF THE OITY OF PORTSMOUTH, VIRGINIA,
<br />That, pursuant to section435 B of the State Tax Oode, the above mentioned real estate re-
<br />cently purchased by I.F. Laucks,. Incorporated, be and the sams is hereby exempted from tax-
<br />atien for the years 1933 and 193~, and that~the Oity 0ol!ector be relieved from the collection
<br />of any taxes thereo~ icr the years 1933 and 1934, provided, however, that should the said I.F.
<br />Laucks, Incorporated, fail to use the said property for said purpose, or cease to use the same
<br />before the first day of January, 1935, then the exemption herein granted shall cease and be of
<br />nc effect and the said property shall be subject to taxation for such period as the said pro-
<br />per~y is not hereafter used."
<br />
<br /> Motion of Mr. Hutchins that we conct~ in the 0ity Manager's recommendation and that
<br />the resolution be approved was adopted, and by the following vote:
<br />
<br />Ayes: Brooks, Fox, Hutohins, Mayo, Moore, Oast, Ogg - ~.
<br />
<br />Nays: None.
<br />
<br /> 8th- ,The Oity Oouncil minutes~of the meeting of September 30th, 1929, contain the
<br />f allowing .resolution:
<br /> ' The Oouncil hereby agrees that if~ and when the Old
<br /> Dominion Table Works gets the signatures and agree-
<br /> merit of the abutting property owners en the alley
<br /> r~ning North and South between Mt. Vsrnon~and Broad
<br /> Street, I~om Por~l~ud to Oommerce, they will then by
<br /> ordinance change the course o~~ the alley, opening
<br /> the said alley in~o Mt. Vernom Avenue.'
<br /> ~ollowiug the foregoing resolution, an ordinance was placed on first reading
<br />but was never taken up ~rom the table.
<br /> The I.F. Laucks, Incorporated, h~s recently pu~rohased the property of the Old
<br />Dominisn Table Works and has secured the signatures of all abutting propert~ o~ers on the al-
<br />ley consenting to the oleming ef the ps,t ion of the alley mentioned in the ordiuanoe, which
<br />signatures are attached herewith.
<br /> AS the matter has extended ever so long a period I have ha~ a new ordinance
<br />prepared by the oit~ Attorney simila~t~ the one placed en the table by th~ 0ouncil, and I rec-
<br />ommend its adoption."
<br />
<br /> On motion cf Mr. Mays, the following ordinance was placed on its £irst reading:
<br />
<br /> "AN ORDINANOE TO OLOSE THAT PORTION OF THE ALLEY LYING BET~VEEN BP~AD
<br /> STREET AND MOUNT VERNON AVEN~E, EXTENDING ~-RON OO~NEROE ~?REET TO A
<br /> POENT DISTANT 185 FEET SOUTH THEREOF."
<br />
<br />and by the following vote:
<br />
<br />Ayes: B~ooks, Fox, Hutchins, Mayo, Moore, Oast, 0gg - Y.
<br />
<br />Nays: None.
<br />
<br /> 9th - "Referring te my letter of April 18th in which I recommended the acceptance
<br />of an offer from the Elgin Sweeper 0ompany for a newstreet sweeper~
<br /> The 0ity Attorney advised that an ordinance authorizing th~issuance of the
<br />two notes of $2,500. each will be required, in order ~e make th? ~o~es lega~ ~erefore, I
<br />have had prepared an ordinance which has bee~ approved by the 0mty Attern~,~u~horizing the
<br />issuance of the two notes, the adoption of whic~I recommend. The ordinanc~ is entitled~
<br /> 'AN o~DINANOE AUTHORIZIk~ THE ISBUANOE OF TWO NOTES OF THE
<br /> OITY OF PORTSMOUTH, VIRGINIA, IN THE BUM OF TENTY-FI~E
<br /> HUNDRED ($2500.00) DOLLARS EAOH, FOR THE PURPOSE OF PUR-~
<br /> OHASING A NEW STREET SWEEPER, AND MAKING PROVISION FOR T~E
<br /> PAYMENT THEREOF.'"
<br />
<br /> On motion of Mr. Ogg the said ordinance was piaeed on
<br />following vote:
<br /> Ayes: B~ooks, Fox, Hutchins, Mayo, Moore, O~st, Ogg -
<br /> Nays: None.
<br />
<br />its first r~adimg, and by the
<br />
<br /> ?.
<br />
<br />
<br />
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