Minutes 02/12/1991 - Laserfiche WebLink

Home Browse Search

February 12, 1991 91- 4 - Ordinance. to appropriate $413,750 from the Capital Improv ~nt Fund for the purchase of the building at 221 High Street M [on of Mr. King and seconded by Mrs. Lucas, the ordina was adopted on final reading and by the foll( ORDINANCE TO APPROPRIATE $413,750.00 FROM TH} I FOR THE PURCHASE OF THE BUILDING STREET, PORTSMOUTH, VIRGINIA." Ayes: srson, King, Hawks, Lucas, Webb Nays: ~mons, Corprew REPORTS FROM THE CITY MANAGER - 3 - Letter from the City Manager rec~mendin¢ an ordi~Dnce to appropriate $4,000,000 from the Capi~ Improvements Fund for the purchase of the Human Servl¢- 1701 H Street, and authorizing the City Manager tO necess documents needed for the purchase of this fac " Ianuary 7, 1991, you authorized the issua~c~ c millio in bonds for numerous projects including the pu three [ldings, one of which is the Human ~ervices High S ~et. The bond sale was successfully consummate closin laving taken place on January 23, 1~91. The Ci in a ] [tion to move forward with the purchase of the Servi~ ~ uenter. A~ previously indicated, it is in the best inte~ City tD ~ct now on our contract option with Goodm~n purcha~e~tne facility. The purchase price ~s establis contra~t~opt~on Dy an amortization scnedule amount at Th ' ' ' e prk¢~ will be approximately $4,000,000 and the ex~ will b~ ~etermined at closing. I am recommending thg~ be app~Driated from the Capital Improvements Fund fO~ purcha~e~of the facility. Any additional costs at t~ settlece~t w~ll come from the ex~st~n~ appropriation fo the buil~in~. I h~refore, recommend your approval of the ap ordina~c~ in the amount of $4,000,000 from the Capital Improv~9~nts Fund, and a motion to authorize me to e) necessar~ documents needed to purchase this facility~ approv~of this item, the balance in the Capital Fund wil~ be $7,096,459. M~t~on of Mrs. Lucas and seconded by Mr. Hawks, ordina~c~ was approved on first reading, and by unan "~ORDINANCE TO APPROPRIATE $4,000,000 FROM TH~ ~pormisgSk)n to ~ho C~7 ~ana~or au~horSz~n~ hSm to ox~ necessh~ documents needed for ~he purchase o~ was adoS[od~/~[ by unan~mou, an ord~hnce to appropriate ~250,000 ~rom ~he ~und ~ the comple~on o~ the ~ S~orm ~ater Porm~t followin~ ;in~ vote: CAPITAL AT 221 ~doption of s Center at xecute the ility. f $45 rchase of ter at 170] ~, with th~ ty is now ~uman t of the ar Hogan t~ ~d in the losing. t price this amoun~ the time of rent of riation ~te the With your ~ements follo~in~ vote. ~PITAL AT to ~rant ~e the lility, and ~doption oJ Inprovement~