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April 10, 2001 <br /> <br />01 - 120 - Adoption of a resolution authorizing the City Manager to convey a lot on the <br />east side of Hill Avenue (now closed) to Portsmouth Port and Industrial Commission <br />(PPIC) <br /> <br />This action will place all lots in the western area of Pinners Point in the PPIC for <br />purposes of future use. <br /> <br />Recommendation: <br /> <br />· Adoption of a resolution authorizing the City Manager to convey a lot on the east <br />side of Hill Avenue ( now closed ) to Portsmouth Port and Industrial Commission <br />(PPIC). <br /> <br />Purpose and Need: <br /> <br />· Recent title examination in the area indicates that all properties in the western area <br />of the Port not owned by Virginia Port Authority are titled under the PPIC except this <br />one lot. All the lots so titled were conveyed to PPIC by the City and the Port Authority. <br />It appears that this one lot was inadvertently omitted from the previous conveyances. <br />Conveyance of this lot would place all lots in the western area of Pinners Point in PPIC <br />for purposes of control and future use. <br /> <br />Financial Impact: <br /> <br />· There will be no financial impact as a result of this conveyance. It will remain <br />exempt for purposes of taxation. <br /> <br /> Motion by Mr. Pitts, and seconded by Mr. Whitehurst, to adopt the following <br />resolution, and was adopted by the following vote: <br /> <br />"A RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE A DEED OF <br />CONVEYANCE FROM THE CITY OF PORTSMOUTH TO THE PORTSMOUTH PORT <br />AND INDUSTRIAL COMMISSION FOR THE PROPERTY KNOWN AS LOT 216 ON <br />THE PLAT OF PINNERS POINT LAND CO'S PROPERTY AT PINNERS POINT IN <br />THE CITY OF PORTSMOUTH, VIRGINIA. <br /> <br /> BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that the <br />City Manager be, and he hereby is, authorized to execute a deed of conveyance to the <br />Portsmouth Port and Industrial Commission for the following described property, to-wit: <br /> <br />Lot 216, as shown on the Plat of the Pinners Point Land Co's property at Pinners Point, <br />which plat is recorded in the Clerk's Office of the Circuit Court of the City of <br />Chesapeake, Virginia in Map Book 4, page 7. <br /> <br /> BE IT FURTHER RESOLVED that the City Manager is hereby authorized to <br />execute such deeds, plats and other documents necessary to effect the conveyance of <br />property herein authorized between the City and the Portsmouth Port and Industrial <br />Commission as may be required, and to require such deeds and documents to contain <br />such other provisions as he may deem appropriate and in the best interest of the City of <br />Portsmouth." <br /> <br />Ayes: Benn, Griffin, Moody, Pitts, Robinett, Whitehurst, Holley <br />Nays: None <br /> <br />01 - 121 - Adoption of a resolution to approve the issuance of Industrial Development <br />Revenue Bonds by the Industrial Development Authority (IDA) of the City of Portsmouth <br />for the acquisition, construction and equipping of a corrugated metal manufacturing <br />facility located at 900 PortCentre Parkway in Portsmouth, Virginia. <br /> <br />Recommendation: <br /> <br />· Adoption of a resolution to approve the issuance of Industrial Development Revenue <br />Bonds by the Industrial Development Authority (IDA) of the City of Portsmouth for the <br />acquisition, construction and equipping of a corrugated metal manufacturing facility <br />located at 900 PortCentre Parkway in Portsmouth, Virginia. <br /> <br /> <br />