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144
<br />
<br />October 1, 1985
<br />
<br />by
<br />
<br /> On motion of Mr. Gray and seconded by Mrs. Lucas, the following resolution was adopted
<br /> the following vote:
<br />
<br /> "A RESOLUTION AUTHORIZING THE CITY MANAGER TO SIGN A-QUI~ CLAIM DEED FOR CERTAIN
<br /> PROPERTY OF THE CHURCHLAND LAND COMPANY, 3RIGINALLY PLATTED AS A FUTURE EXTENSION
<br /> OF ACADEMY AVENUE.
<br />
<br /> WHEREAS, by plat recorded in the Clerk,s Office of the Circuit Court of Norfolk County
<br />in 1908 The Churchland land Company dedicated certain property as public streets in Churchlanf
<br />Virginia; and
<br />
<br /> WHEREAS, a portion of the street dedicated as Academy Avenue extending from
<br /> (now Arden Street) to property now owned by Grove Baptist Church was depicted on
<br />{O~future extension of Academy Avenue; and
<br />
<br />A Street
<br />said plat
<br />
<br /> WHEREAS, said property was not subsequently formally
<br />City of Chesapeake or the City of Portsmouth; and
<br />
<br /> WHEREAS, said property was never improved or used as
<br />the City of Chesapeake or th~ City of Portsmouth; and
<br />
<br />dedicated to Norfolk County, the
<br />a public street by Norfolk County,
<br />
<br /> WHEREAS, the owner of property adjoining said portion of Academy Avenue to the west has
<br />filed a petition in the Circuit Court of the City of Portsmouth for the purpose of appointing
<br />a special receiver for The ChurchLand Land Company to acquire title to said portion of~
<br />lvenue and other adjoining property; and
<br />
<br /> WHEREAS, the City of Portsmouth has been requested to approve a quit claim deed releasin
<br />to the receiver for Ihe Churchland Land Compnay any interest which the City may have in that
<br />portion of Academy Avenue in order to obtain clear title to the property.
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that
<br />the City Manager be, and he hereby is, authorized to sign a qui~ claim deed for certain prope~
<br />of The Churchland Land Company originally platted for future expansion of Academy Avenue more
<br />particularly described as follows:
<br />
<br /> All that certain piece or parcel of land situate, lying and being in
<br />th~ City~of~Portsmouth,~.Virgi~ia, bounded and described as follows:
<br />beginning at a pin found at the northeast corner of property owned by GgJ
<br />Enterprises, Inc., thence south 76° 26' 10" east for a distance of 57.74',
<br />thence south 13° 33' S0" west for a distance of 242.65' to a point at the
<br />edge of the northwestern properzy line of Grove Baptist Church, thence south
<br />66° 94' 38" west for a distance of 75.62' along the northwestern boundary of
<br />property owned by Grove Baptist Church; thence north 13© 33' S0" eas~ for a
<br />distance of 262.72', thence north 18° 32' ~1" east for a distance of 26.04' to
<br />the point of beginning.
<br />
<br /> Ayes: Beamer, Corprew, Gray, Lucas, Whitlow, Holley
<br /> Nays: None
<br />
<br /> 85-28S Letter from the City Manager recommending adoption of a resolution to allocate
<br />g500,800 in Industrial Revenue Bonds for the benefit of P. H. Boyette, Jr. g Company, Inc.,
<br />for land acquisition, construction, and equipping of an 8,000 square foot office building to
<br />be located in the 3300 block of Tyre Neck Road.
<br />
<br /> "On September 12, 1985, the Industrial Development Authority of the City of Portsmouth
<br />held a public hearing and approved an Industrial Revenue Bond Inducemenz Resolution in the
<br />amount of $500,000 for the benefit of P. H. Boyette, Jr. and Company, Inc. These bonds would
<br />be used for land acquisition, construction and equipping of an 8,000 square foot office build-
<br />ing to be located in the 3300 block of Tyre Neck Road.
<br />
<br /> On August 22, 1985, the Commonwealth of Virginia returned S1,252,800 in local bonding
<br />authority to the City of Portsmouth. This amount was returned because tke Portsmcuth Proper-
<br />ties (coal-pier) project was declared ineligible for State Reserve funding prior to November
<br />14, 1985. Therefore, the $1,252,800 in local bonds previously allocated to the Portsmouth
<br />Properties project may be reallocated to other, local projects provided such projects close
<br />by October 16, 198S.
<br />
<br /> The Industrial Development ~uthority has recommended that $500,000 of the City's now
<br /> remaining $1,252,800 in local bond authorization be allocated to P. H~ Boyette, Jr. and
<br /> Inc. for this projecz. ?here are no other bond projects identified at this time which require
<br /> an allocation and which can close by October 16. The four (4) projects which were submitted
<br /> for s~ate Reserve funding on August 15, 1985, all have been awarded State allocatiens which
<br />
<br />IDA has also recommended
<br />the State Industrial Re-
<br />
<br />are valid until December 3, 1985.
<br />
<br /> In the event this pro3ect is unable to close by October 16, the
<br />that the City Council authorize the submission of an application to
<br />venue Bond Reserve for this project.
<br />
<br /> This 8,000 square foot office building (see attached map~ would contain eight (8~ units
<br />of which one unit will serve as the corporate headquarters for P. H. Boyette, Jr. and Company,
<br />Inc.
<br />in
<br />
<br /> As indicated on the enclosed Development Summary, this project is expected to generate
<br />excess of $14,000 in local, annual taxes and to create 35 new jobs in the City of Portsmoun ~.
<br /> The attached resolution has been prepared by the City Attorney, and I recommend its apprc ~al."
<br />
<br />
<br />
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