Minutes 09/09/2014 - Laserfiche WebLink

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September 9, 2014 Commencing along the western line of Burton's Point Road at the northeastern corner of that certain property having a current street address of 3920 Burton's Point Road; thence westerly along the northern boundary of 3920 Burton's Point Road approximately 850 feet to the northwestern corner of the said property; thence northwesterly approximately 30 feet to the southwestern corner of that certain property having a current street address of 3904 Burton's Point Road; thence easterly along the southern boundary of 3904 Burton's Point Road approximately 850 feet to the southeastern corner of the said property and the western line of Burton's Point Road." Ayes: Cherry, Edmonds, Meeks, Moody, Psimas, Randall, Wright Nays: None 14 - 344 -Adoption of a resolution authorizing the City Manager to execute a deed to convey 700 Crawford Street to the Economic Development Authority for redevelopment. Vision Principle: A Robust Economy for Working Men and Women. Background: • The acquisition of the 55,000 square foot building 801 Water Street allows for the consolidation of most of the Portsmouth Police Department functions into a single structure. As a result, the Fiscal and Administration Divisions will vacate the single story buildings at 700 Crawford Street. • The property at 700 Crawford Street is 0.99 acres. The two single-story office buildings on the property are 3,854 square feet and 5,000 square feet. Discussion: • Because of its downtown location and proximity to other commercial and residential redevelopments, 700 Crawford Street is ideally situated for redevelopment. The City can more effectively facilitate redevelopment by transferring ownership of the property to the Economic Development Authority (EDA). • The EDA may choose to demolish the structures to further induce redevelopment. Financial Impact: • The City will reduce its fixed assets by $1,694,090 which is the current assessed value of the land and buildings. Recommended Action: • Adoption of the resolution. Vision Principle: A Robust Economy for Working Men and Women. Next Steps Following Council Action: • The City Manager will execute the necessary documents. Motion by Ms. Psimas, and seconded by Mr. Meeks, to adopt the following resolution, and was adopted by the following vote: "RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE A DEED OR OTHER DOCUMENTS AS MAY BE NECESSARY TO CONVEY 700 CRAWFORD STREET (TAX PARCEL 0007-0900) TO THE ECONOMIC DEVELOPMENT AUTHORITY OF THE CITY OF PORTSMOUTH, VIRGINIA. BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that the City Manager be, and hereby is, authorized to execute such deeds or other documents as may be necessary to convey 700 Crawford Street (Tax Parcel 0007-0900) to the Economic Development Authority of the City of Portsmouth, Virginia, said property being generally described as follows: