Minutes 01/10/2012 - Laserfiche WebLink

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January 10. 2012 Background: . The EDA was the original declarant under the "Amended and Restated Declaration of Restrictions for Industrial Development Authority of the City of Portsmouth, Virginia" dated May 13, 1997 and applicable to the former site of the Churchland High School. . The Declaration placed certain limitations on the use of the property and established certain easements on the property. . The property has since been conveyed to the City, the Sterling Creek Commons Limited Partnership, Province Place of Maryview, L.L.C., Navy Federal Credit Union, the Sterling Cove Condominium Association, Ryan and Alisa Smith, Garland Drive, L.L.C., and Paul Reca, who are subject to the Declaration. . The Declarants desire to amend the Declaration to terminate the prohibition of fuel or gas sales in order to allow the sale of fuels on the current site of the Kroger Shopping Center at 5601 High Street. Discussion: . Formal action is required by City Council to authorize and direct the City Manager to execute the Amendment to Declaration of Restrictions. . All other declarants have agreed to execute the amendment. Financial Impact: . The financial impact is believed to be favorable for the City, but the extent to which the termination of the prohibition of fuel or gas sales and to permit carwash facilities will produce additional tax revenue cannot be determined at this time. Recommended Action: . Adoption of a resolution authorizing the City Manager to execute the Amendment to Declaration of Restrictions. Vision Principle: A Robust and Prospering Economy. Next Steps Following Council Action: . Present the Amendment to EDA. 1. Robert Barclay, 200 High Street, spoke in support of this item. 2. Mark Geduldig-Yatrofsky, P. O. Box 50141, had questions with regards to deed restrictions. Motion by Mr. Whitehurst, and seconded by Mr. Heretick, to adopt the following resolution, and was adopted by the following vote: "RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE AN AMENDMENT TO THE DECLARATION OF RESTRICTIONS BETWEEN THE ECONOMIC DEVELOPMENT AUTHORITY, THE CITY, AND OTHER PARTIES TERMINATING THE PROHIBITION OF FUEL SALES AT THE KROGER SHOPPING CENTER SITE AT 5601 HIGH STREET. WHEREAS, the Kroger Shopping Center at 5601 High Street is subject to the Amended and Restated Declaration of Restrictions for Industrial Development Authority of the City of Portsmouth, Virginia, dated May 13, 1997 ("the Declaration"), that prohibits the sale of fuel or gas sales on the property; and WHEREAS, in order to permit such sales, the Declaration must be amended by the parties who are subject to the Declaration; and WHEREAS, all of the other parties to the Declaration have indicated their approval of the proposed amendment; and WHEREAS, City Staff has recommended approval of the proposed amendment.