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May 7, 1985
<br />
<br />with
<br />
<br />At a special meeting of the
<br />
<br /> City Council held on Tuesday, May , 1985, there were present:
<br />
<br />James W. Holley, III, Ben A. Beamer, Sr., E. G. Corprew, Jr., J. Robert Gray,
<br />L. Louise Lucas, Gloria O. Webb, Morton V. Whitlow, George L. Hanbury, City Manager,
<br />Steven Lieberman, City Attorney.
<br />
<br />Rev. Thomas Potter, Associate Pastor of Sweethaven Baptist
<br />prayer, followed by the Pledge of Allegiance to the Flag.
<br />
<br />Mayor Holley welcomed all visitors in attendance.
<br />
<br />following call for an addition
<br />
<br />those matters called for in
<br />the Portsmouth Redevelopment
<br /> for Waterfront
<br />
<br /> 85-121 The
<br />
<br /> "In addition to
<br />a joint meeting with
<br />Master Development Corporation
<br />p.m.
<br />
<br />Church, opened the meeting
<br />
<br /> to the meeting was read:
<br />
<br /> the resolution of April 9, 1985, there will be
<br /> and Housing Authority for the presentation by
<br />Development Parcel 61, on May , 1985, at -:00
<br />
<br />By order of the Mayor."
<br />
<br /> 85-121(a) Joint meeting of the City Council and Portsmouth Redevelopment and Housing
<br /> Authority was held on Waterfront Development Parcel 61, with the following members of the
<br /> Portsmouth Redevelopment and Housing Authority present:
<br />
<br /> William H. Oast, III, E. A. Barham, Ralph W. Gholson, Danny Cruce, Exect~ve Director
<br />
<br /> T~e following letter from the City Manager was submitted:
<br />
<br /> "I am ple~se4 to announce that preliminary negotiations have sufficiently.concluded that
<br /> Home Federal Savings & Loan be selected as developer on approximately two acres of property
<br /> north of Riverfront Park. Your negotiating committee believes that their proposal, of approxi-
<br /> mately $9,000,000, would be best for the citizens of Portsmouth thar others received. -
<br />
<br /> Many people have questioned the wisdom of the exFenditure of approximately $1,000,000 for
<br />Riverfront Park. However, when compared with the amount pf taxable development this park has
<br />brought forth to our community -- $8,000,000 on the Seaboard Building and $9,000,000 for the
<br />proposed structure, for a total of $14,000,000 -- the return on investment is phenomenal. Now
<br />we will move toward development of t~e remaining property to the north whish includes the pre-
<br />sent Seawall Restaurant and parking lot owned by Messrs. Fleder and Caplan.
<br />
<br /> One final point of interest to citizens interested in the preservation of the Naval Museum
<br />As promised by Council, the present museum would continue to operate until such time as a suit-
<br />able facility is builg within the existing right-of-way of London Bou'levard near the Lightship
<br />Museum.
<br />
<br /> Attached is an agreement that I will request City Council to authorize on May 14, 1985."
<br />
<br /> Presentation of the Master Development Corporation for Waterfront Development Parcel 61
<br />was given:
<br />
<br />Alan C. Jensen, Developer, Master Development Corporation introduced the Development
<br /> ~
<br />
<br /> E. Saunders Early, Charles Lambert, Peter Weaver, gh~mlRa Rea~s~rg%.gr
<br />
<br /> Mr. Jense~ presented a slide presentation of the Waterfront Development.
<br />
<br /> Mr. John R. Sears, Jr., President of Home Federal Savi~§ g Loan Association,
<br />the Housing Authority, the City Council, and the City Manager for the approach that
<br />taken toward the waterfront.
<br />
<br />commended
<br />is being
<br />
<br />Mr. Jensen answered questions as presented by members of the City Council.
<br />No action taken.
<br />
<br /> 85-122 Letter from the City Manager recommending adoption
<br />funds necessary for the operation of the City Government for and
<br />ning July 1, 1985, and ending June 30, 1986.
<br />
<br />of an ordinance to pproprma~e
<br />during the Fiscal Year begin~-
<br />
<br /> "I hereby 'submit the appropriation ordinance for the Operating Budget for the fiscal year
<br />beginning July 1, 1988, for your consideration on first reading. The ordinance reflects the
<br />budget as I have recommended to the City Council and which has been previously submitted for
<br />your review.
<br />
<br /> The appropriation ordinance will be modified on second reading to apprepriately detail
<br />general wage increase as well as to reflect any additional changes as may be directed by the
<br />City Council.
<br />
<br />th~
<br />
<br /> Also submitted herein are two additional ordinances for your consideration on first read-
<br />ing. The first establishes the Real Estate tax rate at S1.30 for fiscal year 1986 which is
<br />five cents lower than the present rate. It also reestablishes the Tangible Personal Property
<br />and Machinery and Tool tax rates at their current levels. The second ordinance to be consider-
<br />ed on first reading establishes the Business, Professional and Occupational License Tax fanes
<br />to be applied to tax bills in May, 1986. Four of the s~× rates are being recommended to be
<br />
<br />
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