Minutes 01/23/2001 - Laserfiche WebLink

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January 23, 2001 (c) The facility shall submit to all required inspections by the City's Fire Prevention Bureau, Public Health Department and Building Official and shall correct all deficiencies cited. (d) The facility shall comply with all applicable codes, ordinances and regulations of federal, state and local governments and shall obtain and maintain in effect all necessary licenses and permits. (¢) Hours of operation will be limited to 7 a.m. to 10 p.m., Monday through Thursday, and 7 a.m. to 11 p.m., Friday through Sunday. (t') All taxes and fees shall be paid when due. 4. REVOCATION OF PERMIT: Violation of any of the above conditions may serve as grounds for revocation of the use permit by the City Council." 01-15(d): "AN ORDINANCE TO AMEND CHAPTER 40 OF THE CODE OF THE CITY OF PORTSMOUTH, VIRGINIA (1988) BY AMENDING SECTIONS 40-43.6 AND 40-162.1 THEREOF PERTAINING TO PUBLIC STREET ACCESS AND TO NONCONFORMING ZONE LOTS." Ayes: Benn, Griffin, Moody, Pitts, Robinett, Whitehurst, Holley Nays: None - City Manager's Report - 01 - 32 - Adoption of a resolution to contract a debt and to issue general obligations of the City in the form of General Obligation Public Improvement Bonds or to issue a general obligation guarantee to secure indebtedness of the Industrial Development Authority of the City, in aggregate principal amount not to exceed $11,500,000. The proceeds of such indebtedness will be applied to finance the costs of various public projects of and for the City for the purposes of economic development in the Downtown and Victory Boulevard sections of the City Recommendation: · Adoption of a resolution to contract a debt and to issue general obligations of the City in the form of General Obligation Public Improvement Bonds or to issue a general obligation guarantee to secure indebtedness of the Industrial Development Authority of the City of Portsmouth, in an aggregate principal amount not to exceed $11,500,000. Purpose and Need: · Fairwood Homes · It has been the desire of City Council to continue to redevelop the area known as Fairwood Homes. As a result of the recent sale of PortCentre I , there is capacity to incur additional debt for the purposes of economic development. The City is now in a position to exercise its options and acquire two additional phases of Fairwood Homes, parcels 4A and 4B. The purchase price of these two parcels is $4,450,000. The funding for the purchase will come from the issuance of IDA bonds that have a general obligation guarantee from the City. It is anticipated that the IDA will be the purchaser of the property. The only action required on the part of the City will be to authorize the general obligation guarantee in an amount not to exceed $5 million. The bonds will be sold in March and at that time funds will be available to execute the purchase agreement for the two parcels.