Minutes 09/13/2011 - Laserfiche WebLink

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September 13. 2011 BE IT RESOLVED by the Council of the City of Portsmouth, Virginia: 1. The City Manager is hereby authorized and directed to execute and deliver unto the Economic Development Authority of the City of Portsmouth (the "EDA") a deed conveying to the EDA certain property that is the location of the former Churchland Branch Public Library at 3215 Academy Avenue, as authorized by Section 2.03 of the Portsmouth City Charter and Section 15.2-4917 of the Code of Virginia. 2. The purpose of the conveyance is to allow the EDA to facilitate private rehabilitation or redevelopment of the property in a way that enhances community quality and expands the City's tax base. The City Council hereby finds and determines that a conveyance for these purposes is in the public interest. 3. The deed to the property shall be delivered to the EDA to hold in escrow. The terms of the escrow are that the deed shall be recorded or returned to the City in accordance with a Cooperation Agreement between the City and EDA setting forth in detail satisfactory to City Council how the property shall be developed and used. 4. Proceeds from the sale of the property will be distributed in such manner as determined by City Council at a future date. 5. The City Manager is hereby authorized to take such further actions and grant such further assurances as may be reasonably necessary to implement the intent of this resolution. The City Attorney shall provide all legal representation and assistance needed to implement this resolution. 6. matter." The City Manager shall report to Council as needed on the status of the Ayes: Cherry, Edmonds, Heretick, Moody, Randall, Whitehurst, Wright Nays: None 11 - 382 - Adoption of a resolution in support of restoration of State funding for aid to localities. Vision Principle: A Robust and Prospering Economy. Background: . The Commonwealth of Virginia has reduced State aid to localities since FY09. . In FY11, The City of Portsmouth remitted $1,161,163 to the State, and in FY12 we will remit an additional $1,155,369. . These State budget cuts are not accompanied by any reduction in state - imposed mandates, standards and service requirements. Discussion: . In light of the recent State surplus revenue, the State should not continue to shift State costs to local taxpayers and artificially increase the amount of state surplus revenue. Financial Impact: . In FY12, The financial impact to the City of Portsmouth is $1,155,369 in reduction in state aid. Restoration of these funds will benefit the City taxpayers. Recommended Action: . Adoption of the ordinance. Vision Principle: A Robust and Prospering Economy. Next Steps Following Council Action: . City Council resolution will be sent to the State Department of Planning and Budget, and our State Delegates to the Virginia General Assembly. 1. Mark Geduldig-Yatrofsky, P. O. Box 50141, spoke in support of this item. Motion by Mr. Whitehurst, and seconded by Mr. Heretick, to adopt the following resolution, and was adopted by the following vote: