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<br />July 11. 2006 <br /> <br />Discussion: <br />. Financial Impact: Minimal as the lease payment from Suffolk will offset the <br />property tax assessed by Suffolk on this property. <br /> <br />Staff Recommends: <br />Adoption of a resolution authorizing the City Manager to enter into a lease agreement <br />with the City of Suffolk for a portion of Portsmouth owned right-of-way (located in <br />Suffolk) for Suffolk's use as a multi-use recreational trail. Vision Principle: <br />Neighborhood and Community Transformation. <br /> <br />Next Steps Following Council Action: <br />. The execution of an approved Lease Agreement with the City of Suffolk. <br /> <br />Motion by Ms. Psimas, and seconded by Mr. Moody, to adopt the following <br />resolution, and was adopted by the following vote: <br /> <br />"RESOLUTION AUTHORIZING THE CITY MANAGER TO ENTER INTO A LEASE <br />AGREEMENT WITH THE CITY OF SUFFOLK FOR A PORTION OF THE <br />PORTSMOUTH-OWNED FORMER NORFOLK-SOUTHERN RAILROAD RIGHT-OF- <br />WAY FROM MOORE AVENUE TO SUBURBAN DRIVE. <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 enter into a Lease Agreement <br />providing for the City of Portsmouth to Lease unto the City of Suffolk under such terms <br />and conditions as he deems appropriate and in the best interest of the City of <br />Portsmouth, a portion of the Portsmouth-owned former Norfolk-Southern Railroad Right- <br />of-Way from Moore Avenue to Suburban Drive in the City of Suffolk, Virginia. The <br />Lease shall be for a period of five years and shall be renewable for two additional five- <br />year terms. <br /> <br />This resolution shall take effect upon its adoption." <br /> <br />Ayes: Heretick, Moody, Psi mas, Randall, D. Smith, R. Smith, Holley <br />Nays: None <br /> <br />- New Business - <br /> <br />06 - 315 - Boards and Commissions <br /> <br />Vice Mayor Randall offered the following nominations: <br /> <br />HAMPTON ROADS PLANNING DISTRICT COMMISSION <br /> <br />Councilman Douglas L. Smith to be appointed for a two year term ending June 30, <br />2008, replacing Councilman Charles Whitehurst. <br /> <br />MUNICIPAL FINANCE COMMISSION <br /> <br />Councilman Douglas L. Smith to be appointed for a four year term ending June 30, <br />2010, replacing Councilman Charles Whitehurst. <br /> <br />SOUTHEASTERN PUBLIC SERVICE AUTHORITY <br /> <br />Councilman Ray A. Smith, Sr. to fill an unexpired term ending December 31, 2007, <br />replacing Councilman Charles Whitehurst. <br />