Minutes 05/11/1988 - Laserfiche WebLink

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May 11, 1988 WI~EREAS, the City of Portsmouth has determined that certain portions of the property thus purchased are required for improvements of streets; pu~bl'ic u~tilities and for other public purposes; and WHEREAS, the remainder of the property thus purchased is no longer required fOr public purposes and is, hereby, declared to be excess property; and ~EREAS, the Industrial Development Authority of the City of Portsmouth Was established~!tO acquire property and to encourage the redevelopment and reuse of such property by making the same available to private purchasers for development; a.nd WHEREAS~ pursuant to Section 2.09(c) of the Charter of the City of Portsmouth, Virginia, the City may convey real property to the Commonwealth of Virginia or a political subdivision thereof without publiC advertisement; and WHEREAS, the Industrial Development Authority of the City of Portsmouth is a political subdivision of the Commonwealth of Virginia. NOW, THEREFOREr BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that the City Manager be, and he hereby is, authorized to convey portions of the former CSX Transportation, Inc., railroad right-of-way to the Industrial Development Authority of the City of Portsmouth for the purpose of disposing of said excess property. BE IT FURTHER RESOLVED that the City Manager be, and he hereby is, authorized to execute such deeds and other documents as may be necessary to complete said transactions and to carry out the intent of this resolution." Ayes: Barnes Corprew, Gray, Lucas, Simpson, Williams, Webb Nays: None 88-194 - Letter from the City Manager recommending adoption of a resolution to sell a parcel of property on Harris Street. "We have advertised a parcel of property on Harris Street consisting of 0.95 acres for sale. Two bids were received on the property as follows: 1. Bid of Martin K. Saiasky at a purchase price of $16,407.48. The bidder proposes to construct a minimum of four single family dwellings facing Harris Street. The bid. is contingent on ~o offsite improvements being required of the developer, no improvements being required on or along Morris Street which would include curb a~d gu~tter, and that no unusual subsoil conditions exist which would require other than the minimum concrete footing. 2. Bid of James J. Waytand, Jr., to purchase the property at a price of $16,000.00. The developer would construct five single family dwellings on minim~ 7,500 Square foot lots. The developer agrees to relocate the existing.drainage at his own expense and to the satisfaction of the'City. The minimum total investment by the developer would be $300,000.00 The City Assessor has appraised the parcel in the amount of $15,000.00.