|
26!
<br />
<br />March 22, 1983
<br />
<br /> WHEREAg, the IDA has considered the application of Farm Fresh, Inc., a Virginia corporatic
<br />for the issuance of IDA's Industrial Development Revenue Bonds in an amount estimated at
<br />Four Million ($4,000,000) Dollars to assist in the financing of the acquisition of certain
<br />land and improvements thereon located on High, King- and County Streets in the City of Portsme
<br />(formerly property of Sears Roebuck and Company) and the renovation and equipping hereof for
<br />use as a combination supermarket/retail store facility; and has held a public bearing thereon
<br />March 15, 1983; and
<br />
<br /> WHEREAS, the IDA has requested City Council to approve the issuance of the bonds to
<br />comply with the applicable federal and state law; and
<br />
<br /> WHEREAS, a copy of the IDA's Resolution approving the issuance of the bonds, subject to
<br />the terms and conditions contained therein, and the appropriate certification by their legal
<br />counsel have been provided to the City Council for their consideration.
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED that the Council of the City of Portsmouth, Virginia
<br />approve the issuance of Industrial Development Revenue Bonds by the Portsmouth Industrial
<br />Development Authority for Farm Fresh, Inc, in an amount estimated at Four Million ($4,000,000
<br />Dollars for improvements to property located on High, King and County Streets.
<br />
<br /> BE IT FURTHER RESOLVED that the approval of the issuance of the bonds as required by the
<br />applicable federal and state laws does not constitute an endorsement of the bonds, financial
<br />viability of the facility or the creditworthiness-of the company, but, as required by ~15.1-
<br />1380 of the Code of Virginia, 1950, as amended, the bond shall provide that neither the
<br />Commonwealth of Virginia, City of Portsmouth nor IDA shall be obligated to pay the bonds or
<br />the interest thereon or other costs incident thereto except from the revenues and monies
<br />pledged therefor, and neither the faith or credit of the taxing power of the Commonwealth,
<br />the City nor the IDA shall be pledged thereto.
<br />
<br />The
<br />
<br />resolution shall take
<br />
<br /> Ayes: Barnes,
<br /> Nays: None
<br />
<br />effect immediately upon its adoption."
<br />
<br />Beamer, Gray, Holley, Webb, Whitlow, Johansen
<br />
<br /> 83-110 - "Letter from the City Manager recommending adoption of a resolutmon appointing
<br />viewers for the closing of a portion of King Street. '
<br />
<br /> "21st High Properties has filed an application for the closure of a portion of King
<br />Street which extends 375 feet west of Williamsburg Avenue. The proposed closure will allow
<br />Farm Fresh, Inc., a protected area for pedestrian access to the prcposed store and a pracel
<br />pickup area. On March 1, 1983, the City Planning Commission resolved unanimously to recommend
<br />approval of the street closure application. The attached resolution appoints viewers to view
<br />the area and to report to the Council whether in their opinion any, and if any, what incon-
<br />venience would result from the vacating and closing.
<br />
<br /> I recommend adoption of the attached
<br />
<br /> On motion of Mr. Gray and seconded by Mrs.
<br />vote:
<br />
<br /> resolution which has been prepared by the City
<br />
<br />Webb, the following resolution was adopted and by the following
<br />
<br />"A RESOLUTION APPOINTING VIEWERS FOR THE CLOSING OF A PORTION OF KING STREET."
<br />
<br /> WHEREAS, 21st High Properties by attorney Howard E. Gordon, has made application to
<br />vacate, close and di~continne~e hereinafter-described portion of King Street, and it appear-
<br />ing that notice of application and request for the appointment of viewers was duly posted
<br />and advertised according to law.
<br />
<br /> NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that
<br />A. N. Kendrick, Simon P. Arrington, Richard D. Ottavio, James B. McGhee and Raymond Tweed
<br />be appointed viewers, and that Howard L. Davis and C. L. Knight be appointed alternate viewer
<br />in the event one of the preceeding viewers fails to participate, said viewers to view the
<br />hereinafter-described portion of such street and to report to this Council in writing whether
<br />in their opinion any, and if any what incon,enience would result from the vacating and closin
<br />of the following:
<br />
<br /> KING STREET
<br /> All that certain portion of King Street
<br />western right-of-way of Williamsburg Avenue
<br />approximately 37S feet. ~S-83-1)
<br />
<br />extending from the
<br />in a westerly direction
<br />
<br />Ayes: Barnes, Beamer, Gray, Holley, Webb, Whitlow, Johansen
<br />Nays: None
<br />
<br />UNFINISHED BUSINESS
<br />
<br /> 83-88 Adoption of an ordinance to amend Section 2-42 of the City Code and revise Sec~io
<br />I(a) of the Rules of Order and Procedure relative to meeting schedules deferred from the
<br />meeting of March 8, 1983. '
<br />
<br /> On motion of Mrs. Webb and seconded by Mr. Barnes, the following ordinance was adopted
<br /> first and final reading, and by the following vote:
<br />
<br /> BY
<br />
<br />on
<br />
<br />"~ ORDINANCE TO AMEND THE CODE OF THE CITY OF PORTSMOUTH, VIRGINIA, 1973,
<br />AMENDING SECTION 2-42 THEREOF, PERTAINING TO THE DATE, TIME OF REGULAR
<br />SCHEDULED MEETINS."
<br />
<br />Ayes: Barnes, Beamer, Gray, Holley, Webb, Whitlow, Johansen
<br />Nays: None
<br />
<br />uth
<br />
<br />
<br />
|