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May 27, 1986
<br />
<br /> 86-174 - Letter fro~ the City Manager recommedning adoption of an ordinance to amend City
<br />Code pertaining to tax exempt property.
<br />
<br /> "You had previously been briefed by the city Attorney with respect to an opinion rendered{
<br />by the Attorney General pertaining to ~he eligibility of certain organizations for exemptions
<br />from real property taxation under the Constitution of Virginia and~the applicable sections of
<br />the Code of Virginia. The City Attorney and the City Assessor have been evaluating these
<br />changes in order to determine their impact on the approval of tax exempt requests by organiza-
<br />tions owning real property within the City.
<br />
<br /> As a result of this review, the City Attorney and the City Assessor have suggested the
<br />adoption of an ordinance as authorized by the State Code which will require all owners of tax
<br />exempt property to file an application biennially with the City Assessor's office as a require
<br />merit for retention of the exempt status of the property. The application will show the owner-
<br />ship and usage of such property and be filed within sixty (60) days preceding the tax year for
<br />which the exemption, or the retention thereof, is being sought.
<br />
<br /> Once these applications have been received the City Assessor will evaluate and review
<br />these requests in order to assure that only proFerty properly exempt is being carried as such.
<br />
<br /> I concur in the suggestzon of the City Attorney and City Assessor and recommend the
<br />adoption of the attached ordinance."
<br />
<br /> On motion of Mrs. Lucas and seconded by Mr. Whitlow, the fcllowing ordinance was adopted
<br />on first and final reading, and by the following vote:
<br />
<br />"AN ORDINANCE TO AMEND CHAPTER 35 OF THE CODE OF THE
<br />1973, AS AMENDED, BY ADDING THERETO SECTION 35-57.t,
<br />CATION FOR TAX EXEMPTION."
<br />
<br />CITY OF PORTSMOUTH, VIRGINIA,
<br />PERTAINING TO BIENNIAL APPLI-
<br />
<br />Ayes: Beamer, Corprew, Gray, Lucas, Webb, Whitlow, Holley
<br />Nays: None
<br />
<br /> 86-175 Letter from the City Manager recommending adoption of a resolution to approve
<br />the issuance of Industrial Revenue Bonds in ,the amount of $367,000 for the benefit of Herbert
<br />A. Haneman, Mary H. Dixon and Helen H. Gould for the construction of a machine shop, electric
<br />shop, warehouse and training facility located at 3501 Shipwright Street.
<br />
<br /> "On May 14, 1986, the Indistrial Development Authority of the City of Portsmouth held a
<br />public hearing for an Industrial Revenue Bond Inducement Resolution in the amount of $367,000
<br />for the benefit of Herbert A.Haneman, Mary H. Dixon and Helen H. Gould. These bonds would be
<br />used for the construction of a machine shop, electric shop, warehouse and training facility
<br />located at 3501 Shipwright Street to be leased to Western Branch Diesel. An Industrial Revenu
<br />Bond,Inducement Resolution was previously approved for this Froject on April 9, 1986. In
<br />accordance with applicable federal and state law, the IDA has requested City Council to approv
<br />the issuance of such bonds.
<br />
<br /> As indicated in the attached fiscal ~mpact statement and development summary, this projec
<br />is expected to generate in excess of $16,000 in local, annual taxes and to create 15 new jobs
<br />and retain an additional 15 existing jobs in the City of Portsmouth.
<br />
<br /> The attached resolution has
<br />approval.'
<br />
<br /> 3n motion of Mrs. Webb and
<br />and by the following vote:
<br />
<br />been prepared by the City Attorney, and I recommend its
<br />seconded by Mr. Gray, the following resolution was adoFted,
<br />
<br />'A RESOLUTION APPROVING THE ISSUANCE OF INDUSTRIAL DEVELOPMENT REVENUE BONDS BY
<br />THE INDUSTRIAL DEVELOPMENT AUTHORITY OF THE CITY OF PORTSMOUTH FOR HERBERT A. HANEMAN,
<br />MARY H. DIXON AND HELEN H. GOULD IN AN AMOUNT NOT TO EXCEED $367,000 FOR THE CON-
<br />STRUCTION AND EQUIPPING OF A MACHINE SHOP, ELECTRIC SHOP, WAREHOUSE AND TRAINING
<br />FACILITY AT 3501 SHIPWRIGHT STREET IN THE CITY OF PORTSMOUTH, VIRGINIA.
<br />
<br /> WHEREAS, the Industrial Development Authority of the City of Portsmouth, Virginia (~DA)
<br />has been authorized to advertise and hold public hearings relative to the issuance of Industri~ 1
<br />Development Revenue Bonds; and
<br />
<br /> WHEREAS, the IDA bas considered the application of Herbert A. Haneman, Mary H. Dixon and
<br />Helen H. Gould (collectively the "Company") with the principal place of business at 3504 Ship-
<br />wright Street, Portsmouth, Virginia, for the issuance by IDA of Industrial Development Revenue
<br />Bonds in an amount not to exceed Three Hundred Sixty Seven Thousand Dollars ($367,0001
<br />assist in financing the construction and equipping of a 1,500 square foot machine shop, electr c
<br />shiop, warehouse and training facility to be located at 3501 Shipwright Street in the City of
<br />Portsmouth, Virginia (the "Facility"] , and has held a public hearing thereon on May 14, 1986;
<br />and
<br />
<br /> WHEREAS, pursuann to the authority vested in him pursuant to the Deficit Reduction Act of
<br />1984 (the "Act"), the Govemnor of Virginia issued Executive Order No. S4~85) (the "Order")
<br />providing a formula for the allocation of the State Ceiling as defined in that "Order" to
<br />authorize the City Council of the City of Portsmouth, Virginia ~o allocate its portion of the
<br />State Ceiling ~o the mssuing authorities within the City of Portsmouth, Virginia; and
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