Minutes 03/23/2004 - Laserfiche WebLink

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March 23, 2004 · The proposed amendment includes five citizens and two members of City Council in addition to the two ex-officio members. · The change would provide for more fully coordinated financial policy leadership for the City. Financial Impact: · There will be no direct financial impact. Members of the Commission serve without compensation. Motion by Mr. Whitehurst, and seconded by Ms. Randall, to adopt the following ordinance, and was adopted by the following vote: "ORDINANCE TO AMEND MEMBERSHIP OF THE MUNICIPAL FINANCE COMMISSION BY ADDING THERETO 'I'VVO MEMBERS OF CITY COUNCIL." Mayor Holley appointed Vice Mayor Griffin and Councilman Moody to the Municipal Finance Commission. Ayes: Benn, Griffin, Moody, Pitts, Randall, Whitehurst, Holley Nays: None 04 - 112 - Adoption of a resolution to authorize the City Manager to convey the property formerly known as the Hilanders Recreational site (also known as the former Alexander Park Elementary School) to the Industrial Development Authority. Recommendation: · Adoption of a resolution authorizing the City Manager to convey the property formerly known as the Hilanders Recreational site (also formerly known as the Alexander Park Elementary School) to the Industrial Development Authority (IDA). Purpose and Need: · The Industrial Development Authority is in the final stage of negotiations of a Master Development Agreement that will provide for the development of this site (31.387 acres, more or less) as part of a new business park in the Victory Crossing area. · The site had not been previously conveyed to the IDA because of its Urban Park and Recreation Recovery Program (UPARR) status that has recently been removed. Financial Impact: · It is anticipated that this parcel that is in close proximity to a 104-acre tract has the potential to collectively result in a business park that can host an estimated $400 million in new real estate investment. Motion by Mr. Moody, and seconded by Mr. Pitts, to adopt the following resolution, and was adopted by the following vote: "RESOLUTION AUTHORIZING THE CITY MANAGER TO CONVEY THE PROPERTY FORMERLY KNOWN AS HILANDERS RECREATIONAL SITE, FORMERLY ALEXANDER PARK ELEMENTARY SCHOOL TO THE INDUSTRIAL DEVELOPMENT AUTHORITY. BE IT RESOLVED, by the Council of the City of Portsmouth, Virginia, that the City Manager be, and he hereby is, authorized to execute such deeds or other documents as may be necessary to convey to the Industrial Development Authority, the property known as Hilanders Recreational Site, formerly Alexander Park Elementary School, it being 31.387 acres, more or less."