Minutes 06/14/1988 - Laserfiche WebLink

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June 14, 1988 88-205 - The following ordinance approved on first reading at the Regular Meeting of May 24, 1988, was taken up and read: "AN ORDINANCE TO APPROPRIATE $542,547 FROM THE CAPITAL IMPROVEMENT FUND FOR THE DOUGLAS PARK STREET IMPROVEMENTS PROJECT, PHASE II." Motion of Mr. Barnes ordinance was adopted on vote: Ayes: Barnes, Corprew, Nays: None and seconded by Mr. Simpson, the final reading, and by the following Gray, Lucas, Simpson, Williams REPORTS FROM THE CITY MANAGER 88-224 - Letter from the City Manager recommending adoption of an ordinance to appropriate $65,000 from the CIP contingency for the purchase of surplus TRT property off of Greenwood Drive. "In November 1974, the City of Portsmouth sold Tidewater Regional Transit 5.02 acres off of Greenwood Drive to allow for construction of a Park and Ride facility. TRT, in a separate agreement, granted permission to the State for the construction of the parking lot. The Tidewater Transportation District Commission, at its February 10, 1988 meeting, declared the property surplus and recommended that the property be sold. The State Highway Department has subsequently concurred with TRT with two conditions: o limited access fencing be established along perimeter o bus ramp adjacent to 1-264 ramp be removed the The 1974 agreement included a provision that if the property was no longer needed, the city reserved the right to repurchase at "fair market value or at $65,000 whichever is less." The City's Director of Economic Development, as well as the Industrial Development Authority feel the property is extremely marketable i.e., quality mid-priced interstate hotel or office-warehouse complex. With the on-site parking lot and landscaping improvements the opinion is the property can be to the value of the property and the potential return to the City. Our first choice would be for a quality interstate hotel. Because the property is currently zoned R-75, a rezoning would be required to C-2, C-3 or M-1. Prior to going forward with a rezoning I would propose that staff work with the Cavalier Manor Civic League, Charlestown Apartments and other interested civic groups. TRT has proposed selling the property to the City for $65,000 and I concur. I, therefore,'recommend that City Council appropriate $65,000 from the CIP contingency for the purchase of surplus TRT property." The following citizens spoke in support of the acquisition of the property and asked that the community have in-put into the use of the property: