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NOW, THEREFORE, BE IT RESOLVED by the Council of the' City of Portsmouth, Virginia, that A.
<br />N. Kendrick, Simon P. Arrington, Richard D. Ottavio, James V. McGhee and Raymond Tweed be
<br />appointed viewers, and that Harrison Miller and George N. Powers, Sr. be appointed alternate
<br />viewers ~n the event one of the preceeding viewers fails ro participate, said viewers to view
<br />the hereinafter-described portion of such street and to report to this Council in writing
<br />whether'~i~th¢ir opinion any, and if any, what inconvenience would result ~n vacating and
<br />closing the following:
<br />
<br />SOUTHERN AVENUE
<br />
<br /> All that portion of Southern Avenue as shown on the plat of "Pinners Point
<br />Waterfront Company" which is described as beginning at the west side of Hill
<br />Avenue and running a width of 60 feet, for a distance of 100 feet west to the
<br />previously closed portion of Southern Avenue."
<br />
<br />Ayes: Barnes, Beamer, Gray, Holley, Webb, Whitlow, Johansen
<br />Nays: None
<br />
<br /> 84-140 - Letter from the City Manager recommending adoption of a resolution approving the
<br />issuance of Industrial Development Revenue Bonds by PRHA for Elliott Avenue Associates in the
<br />amount not to exceed $1,00C,000 for an 18-unit housing facility at Elliott Avenue and Beacon
<br />Road.
<br />
<br /> "The Portsmouth Redevelopment and Housing Authority held a public hearing on April 3,
<br />1984 to consider the issuance of industrial development revenue bonds for Elliott Avenue
<br />Associates, a Virginia General Partnership, in an amount not to exceed 61,000,000 to assist
<br />the construction and equipping of an 18 unit rental housing facility at Elliott Avenue and
<br />Beacon Road. After the public hearing the Portsmouth Redevelopment and Housing Authority
<br />adopted a resolution of intent to issue said bonds, and ~n accordance with the applicable
<br />and federal law, has requested the City Council's approval of same.
<br />
<br />in
<br />
<br /> The project in question is Group Housing Project GHP-84-4, and was approved by the City
<br />Council on first reading at their meeting of April 10, 1984, and is being considered tonight
<br />under unfinished business.
<br />
<br /> The necess'ary documentation, including the physical impact development summary for the
<br />project is enclosed for your information. The attached resolution has been prepared by th'e
<br />City Attorney, and I recommend its approval."
<br />
<br />Motion:of Mr_ Gray and seconded by Mrs. Webb, to adopt the resolution.
<br />
<br /> Motion of Mr. Gray and seconded by Mrs. Webb, to amend the resolution by removing the
<br />word "moderate", and was adopted by unanimous vote.
<br />
<br /> Ralph Buxton, 3200 Tyre Neck Road, representing Elliott Avenue Associates, was available
<br />for questions presented.
<br />
<br />On motion, the following resolution was adopted, as amended, and by the following vote:
<br />
<br />"A RESOLUTION APPROVING THE ISSUANCE OF INDUSTRIAL DEVELOPMENT REVENUE BONDS
<br />BY THE PORTSMOUTH REEEVELOPMENT AND HOUSING AUTHORITY OF THE CITY OF PORTSMOUTH,
<br />VIRC~NIA'~FOR ELLIOTT AVENUE ASSOCIATES IN AN AMOUNT NOT TO EXCEED $1,000,000
<br />FOR AN 18 UNIT RENTAL HOUSING FACILITY AT THE INTERSECTION O~ ELLIOTT AVENUE
<br />AND BEACON ROAD, PORTSMOUTH, VIRGINIA.
<br />
<br /> WHEREAS, the Portsmouth Redevelopment and HoUsing Authority of the City of Portsmouth,
<br />Virginia (PRHA) has been authorized by the Council of the City of Portsmouth, Virginia to
<br />advertise and hold public hearings relative to the issuance of revenue bonds in accordance witk
<br />the provisions of §103 [k) of the Internal Revenue Code of 1954, as amended, and ~15.1-1378.1
<br />of the Code of Virginia of 1950, as amended; and
<br />
<br /> WHEREAS, the PRHA has considered the application of Elliott Avenue Associates, a Virginia
<br />General Partnership, for the issuance by PRHA of industrial development revenue bonds pursuant
<br />to Chapter 1, Title 36 of the Code of Virginia, 1950, as amended, zn a principal amount not to
<br />exceed One Million ($1,000,000) Dollars to finance the cost of construction and equipping of
<br />eighteen (18] rental housing units to be located at the intersection of Elliott Avenue and
<br />Beacon Road, Portsmouth, Virginia, (such improvements being collectively referred to as the
<br />"facility"); and
<br />
<br /> WHEREAS, Elliott Avenue Associates has described to PRHA the benefits which the "facility"
<br />will bring to the Commonwealth of Virginia and to the City of Portsmouth, Virginia, and that at
<br />least twenty percent (20%) of the eighteen (18) housing units shall be reserved for occupancy
<br />by persons of low income as defined in Section 8 of the United States Housing Act of 1937 which
<br />will further the purposes of the PRHA and benefit the residents of the Commonwealth and the
<br />City by assisting in the provision of improved housing at rentals which persons and families of
<br />low income can afford; and
<br />
<br /> WHEREAS, the PRHA has held public hearing thereon in accordance with all applicable feder
<br />and state la~g on April 3, 1984, and has requested City Council to approve the zssuance of sai
<br />bonds; and
<br />
<br />
<br />
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