Minutes 05/27/1986 - Laserfiche WebLink

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May 27, 1986 To commence the initial phase of this program, timber situated on seven parcels on our watershed. tion of Franklin which offered $83,960.00 for this bids were received for the sale of the The highest bidder was Union Camp Corpora- timber. I, therefore, recommend approval to award the sale of timber to Union Camp Corporation." Motion of Mr. Corprew and seconded by Mrs. Webb, that authorization be grant to award the sale of timber to Union Camp Corporation, as requested, and was adopted by unanimous vote. 86-184 Letter from the City manager recommending adoption of the City Manager to execute a development agreement with Portsmouth Associates. a motion to authorize the Parkside Development "Recent negotiations concerning several sites in the Central Business District enable me bring exciting news to the City Council. As Council is aware, bids were requested for the construction of a mixed use residential and commercial development with a public parking garage. A proposal from Portsmouth Parkside Development Associates was received and has keen reviewed by the various staffs of the Ports- mouth Redevelopment and Housing Authority and the City. The project includes 40 one-bedroom and two-bedroom condominium units, as well as 8,734 square feet of commercial/retail space, and 63 spaces for parking for the condominiums. In addition, Portsmouth Parkside Development Associates has proposed to construct, as par~ of the development agreement, a 388-ear parking garage for public use. A qualified es%imator will be employed by the City but paid by Portsmou Parkside Development Associates to ensure that we are receiving a fair price for the construc- tion of this project, which is not to exceed $2,644,450 excluding contingencies and engineerin inspection. In addition, plans have been completed by Master Development Corpcration for the 60-unit condominium, 1S,000 square footage of retail'commercial space, and 6] public parking spaces, as well as 124 private spaces for condominium owners. I feel that the developers have earnest ly attempted to meet visual concerns of residents and adjacent developers and still comply with the architectural requirements to attemp~ to capture "turn of the Century" architecture. Finally, requests have been received from the Seaboard Coastline Associates tion to their agreement enabling outdoor dining as well as set back requirements wall similar to those of Master Development Corporation. for modifica- from the sea- In total, these pro~ects amount to $17,000,00C which I believe has been generated by the public investment authorized by City Council. Public investment amounted to $1.1 million or a return of iS ~o 11. Therefore, it is recommended that City Council make three separate motion authorizing me to execute the development agreements with Portsmouth Parkside Develop- ment Assocmates, and authorization to modify the agreements with Seaboard Coastline Associate~ and Master Development Corporation.' Motion of Mrs. Webb and seconded by Mr. ]ray, to authorize the City Manager and City Attorney to finalize negotiations and execute a development agreement with Portsmouth Parkside Development Associates and W. B. Meredith, Il, Inc. for the property borded-'by Crawford Park- way, High Street, Water Street and King Street, and was adopted by unanimous vote. 86-185 Letter from the City Manager recommending adoption of a motion to authorize the City Manager to execute the second amendment to the development agreement with Master Develop- ment Corporation for the Downtown Waterfront Site. (See letter under Item 86-184] Action was taken on Item 86-185 under Item 86-102(b). 86-186 Letter from the City Manager recommending adopzion of a motion to authorize the City Manager to execute the third amendment to the development agreement with Seaboard Coast- line Associates for the renovation and construction of theT~Seaboard Coastline Building. (See letter under Item 86-184) Motion of Mr. Gray and seconded by Mrs. Webb, ~o authorize the City Manager and City Attorney to finalize and execute a third amendment to the development agreement with Seaboard Coastline Assocmates for the renovation and construction of the Seaboard Coastline Building, and was adopted by unanimous vote. 86-187 Letter from the City Manager transmitting audit reports for Council information. "Enclosed are copies of recently completed audit reports by our auditors, Peat Marwick. One is the Federally and State required Single Audit Report. The second one is the State required Turnover Audit for the City Treasurer's Office. In addition to this report, the auditors have provided a companion report pertaining to the internal ccntrols in the Treasurer Office which is enclosed. Mr. Charles Whitehurst has prepared responses to the auditors' comments, which are included as well. Copmes of each of these reports are being furnished to the members of the Municipal Finance Commission. The Commission and City staff will review these reports and proceed with follow-up activities as may be appropriate. If any members of Council have questzons or wish to discuss these reports, please let me know and I will be happy to place them on your agenda or to discuss them individually. Motion of Mr. Gray and seconded by Mrs. Webb, that the repcrts no be received as informa- tion, and was adopted by unanimous vote. ~h