Minutes 11/14/2006 - Laserfiche WebLink

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November 14. 2006 Ayes: Heretick, Moody, Psi mas, Randall, D. Smith, R. Smith, Holley Nays: None 06 - 515 - Adoption of a resolution authorizing the City Manager to execute a deed of conveyance from the City of Portsmouth to the Economic Development Authority for a 60 foot strip of property located between Victory Boulevard and Paradise Creek. Vision Principle: Neighborhood and Community Transformation. Background: . In December of 1936, the Virginia Electric & Power Company (VEPCO) conveyed to Norfolk County a 60-foot right-of-way for use as a highway or road in return for VEPCO releasing its rights to operate electric streetcars in the streets of Cradock. VEPCO retained the right to maintain and operate a power line and the US Navy retained the right to place a water main in this right-of-way. These rights remain in force but have never been exercised and continue to "encumber" any future use or development of the property. Discussion: . The portion of the right-of-way to be conveyed lies south of the Victory Boulevard bridge over Paradise Creek and between the eastern right of way line of Victory Blvd. and the Paradise Creek. . As a result of the 1948 annexation, this right-of-way became the property of the City, but Portsmouth never had any use for it as Victory Blvd. was built parallel to this right-of-way. . That portion of Perry Street lying between Victory Blvd. and Paradise Creek was closed and vacated by Ordinance 1989-11 of the City Council of the City of Portsmouth as this right of way of Perry Street and the 60' right of way touch upon each other, a portion of Perry Street would have vested in the City of Portsmouth upon closure. . The portion of the right-of-way is bounded on the north by Beach Marine and on the south by lands that may become a park constructed by the Elizabeth River Project. The property is in an area of interest for development, and the conveyance will place this property in a position and ownership for ready use. Financial Impact: . The sale of this property by EDA has not been negotiated. The City's conveyance of this right-of-way to EDA may include a reservation for City infrastructure as deemed essential. Staff Recommends: Adoption of a proposed resolution. Vision Principle: Bold New Directions. Next Steps following City Council Action: . The City Manager will execute the Deed and other required documents on behalf of the City. . The Office of the City Attorney will see to the proper recordation of said deed, and work with EDA to insure that title to the property is sound. Motion by Mr. Moody, and seconded by Ms. Randall, to adopt the following resolution, and was adopted by the following vote: "RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE A DEED OF CONVEYANCE FROM THE CITY OF PORTSMOUTH TO THE ECONOMIC DEVELOPMENT AUTHORITY FOR A 60' STRIP OF PROPERTY LOCATED BETWEEN VICTORY BOULEVARD AND PARADISE CREEK. BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that the City Manager be, and he hereby is, authorized to execute a deed of conveyance to the Economic Development Authority for the following described property, to-wit: