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March 22, 2016 <br /> <br />NOW THEREFORE BE IT RESOLVED <br /> by the Council of the City of Portsmouth, <br />Virginia that the City Manager is hereby authorized to execute a Memorandum of <br />Understanding with PPIC to support the acquisition of 3930 Burton’s Point Road and to <br />execute other agreements with PPIC, EPA and/or the Virginia Department of <br />Environmental Quality to incorporate 3930 Burton’s Point Road into the Atlantic Wood <br />Superfund remedy on substantially the same terms as apply to the former School <br /> <br />property.” <br /> <br />Ayes: Cherry, Edmonds, Moody, Psimas, Whitaker, Wright <br />Nays: None <br /> <br />16 - 97 - Adoption of a resolution authorizing the City Manager to execute a deed <br />and other documents as may be necessary to convey 1525 Portsmouth Boulevard <br />(Tax Parcel 0109-0120) to the Economic Development Authority of the City of <br />Portsmouth, Virginia. <br />Vision Principle: A Robust and Prospering Economy. <br /> <br />Background: <br /> <br /> The City of Portsmouth acquired 1525 Portsmouth Boulevard (Tax Parcel 0109- <br />0120) (the “City Parcel”) in 1952, possibly in connection with street widening activities. <br /> <br /> The City Parcel contains only 0.026 acres and is too small to be of value as a <br />standalone parcel. <br /> <br /> The City has been contacted by the contract purchaser of 1528 Highland <br />Avenue, which is adjacent to the City Parcel. <br /> <br /> The contract purchaser (Robert Glover) desires to acquire 1528 Highland, <br />demolish the dilapidated structure currently on that property, and rebuild a single family <br />home. However, 1528 Highland is too small for the construction a new home. Mr. <br />Glover desires to acquire the City Parcel so that it can be combined with 1528 Highland <br />to create a parcel large enough for a home. <br /> <br />Discussion: <br /> <br /> The City does not use the City Parcel and it has been off the tax rolls for over 60 <br />years. <br /> <br /> Mr. Glover has offered to pay $5,000 for the City Parcel. The City Assessor’s <br />office has determined that to be a reasonable price. <br /> <br /> If City Council authorizes conveyance of the City Parcel to EDA, EDA can <br />negotiate the conveyance of the parcel for development. <br /> <br /> Conveying the City Parcel can benefit the City by (1) returning the property to the <br />tax rolls and (2) triggering the demolition of the dilapidated structure on 1528 Highland <br />Avenue and the construction of a new single family residence. <br /> <br />Financial Impact: <br /> <br /> The City will receive increased tax revenues from returning the City Parcel to <br />private ownership and triggering the construction of a new home. <br /> <br />Recommended Action: <br /> <br /> Adoption of the resolution. Vision Principle: A Robust and Prosperous <br />Economy. <br /> <br />Next Steps Following Council Action: <br /> <br /> The City Manager will execute the necessary documents to convey the property <br />to EDA. <br /> <br />Motion by Dr. Edmonds, and seconded by Dr. Whitaker, to adopt the following <br />resolution, and was adopted by the following vote: <br /> <br />“RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE A DEED AND <br />OTHER DOCUMENTS AS MAY BE NECESSARY TO CONVEY 1525 PORTSMOUTH <br />BOULEVARD (TAX PARCEL 0109-0120) TO THE ECONOMIC DEVELOPMENT <br />AUTHORITY OF THE CITY OF PORTSMOUTH, VIRGINIA. <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />