Minutes 09/12/1989 - Laserfiche WebLink

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September 12, 1989 577 "The Crawford Square Parking Garage has been completed and is now in operation. AS with all other parking garages in the City, the operations are being conducted by the Portsmouth Parking Authority. To fully implement the process of placing the garage in the same status as the other garages, two transactions need to take place. The first is the transfer of ownership to the Parking Authority. To accomplish this, I have requested the City Attorne~ to prepare the necessary resolution authorizing the City Manager to convey the property. This resolution is enclosed for your consideration. The second action required is a motion authorizing the City Manager to execute an agreement with the Parking Authority. This agreement outlines the responsibilities of the Authority in operating the facility, as well as the repayment of the debt incurred in building the garage. As with the other garages the principal on the debt is paid first and the interest is paid only if there are sufficient revenues to do so. The inability to pay interest is forgiven; however, unpaid principal remains the liability of the Authority. I recommend that the City Council favorably consider the attached resolution and approve a motion authorizing the executio~ of the agreement." On motion of Mr. Simpson and seconded by Mr. Gray, the following resolution was adopted on first and final reading and b the following vote: "A RESOLUTION AUTHORIZING THE CITY MANAGER TO CONVEY THE CRAWFORD SQUARE PARKING GARAGE TO THE PORTSMOUTH PARKING AUTHORITY. WHEREAS, the City owns the Crawford Square Parking Garage, which property is no longer required for public purposes and, ts, declared to be excess property; and W~HEREAS, said property may be best administered by the Portsmouth Parking Authority; and W~EREAS, the Council of the City of Portsmouth deems it to b( in the best interest of the City for said property to be operated by the Portsmouth Parking Authority. NOW, THEREFORE, BE IT RESOLVED ~y the Council of the City of Portsmouth, Virginia, that the City Manager be, and hereby is, authorized to convey the Crawford Square Parking Garage situated on the hereinafter-described property to the Portsmouth Parking Authority, to-wit: Ail those certain lots, pieces, or parcels of land situate, lying, and being in the City of Portsmouth, Virginia, designated as "Parcel 28 B" and "Parcel 28 C" on that certain plat entitled "Plat Showing Survey Of Disposition Parcels 28 A, 28 B, and 28 C~ Crawford Urban Renewal Project VA-R-53, Portsmouth, Virginia", dated June 27, 1986, made by ANL Surveying Mortgage and Land Surveys, recorded at the Clerk's Office of the Circuit Court of the City of Portsmouth, Virginia, in Map Book 13, Page 196. ~ BE IT FURTHER RESOLVED that the City Manager be, and hereby is, authorized to sign such deeds and/or other documents as may b( necessary to carry out the intent of this Resolution." Ayes: Barnes, Corprew, Gray, Hawks, Lucas, Simpson, Webb Nays: None