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January 11, 2000 <br /> <br /> (A) An easement for an area of approximately 11,100 square feet for the <br />eastbound tube of the Downtown Tunnel, which easement will be further defined and <br />described for said deed or deeds; <br /> <br /> (B) An easement for drainage of approximately 2,005 square feet in the area <br />lying between the eastbound and westbound tubes of the Downtown Tunnel, which <br />easement will be further defined and described for said deed or deeds; and <br /> <br /> (C) An easement or an agreement granting to VDOT such rights as may be <br />needed by VDOT to ensure that the construction and operation of the Project will not <br />jeopardize or interfere with the safe and convenient continued operation of the <br />Downtown Tunnel. <br /> <br /> BE IT FURTHER RESOLVED that the Manager be, and he hereby is, authorized <br />to execute and deliver to VDOT such other agreements or legal instruments as may be <br />needed to effect the intent of this resolution. <br /> <br />This resolution is effective immediately upon adoption." <br /> <br />Ayes: Benn, Griffin, Moody, Pitts, Robinett, Whitehurst, Holley <br />Nays: None <br /> <br />00 - 10 - Adoption of a resolution authorizing the City Manager to convey to the <br />Industrial Development Authority (IDA) a parcel of land in the vicinity of the Downtown <br />Tunnel related to the Waterfront Performing Arts Center. <br /> <br />Recommendation: <br /> <br />· Adoption of a resolution authorizing the City Manager to convey to the Industrial <br />Development Authority (IDA) a parcel of land in the vicinity of the Downtown Tunnel <br />related to the Waterfront Performing Arts Center. <br /> <br />Purpose and Need: <br /> <br />· The Waterfront Performing Arts Center (the "Project") is to be developed by the IDA <br />on the subject property. <br /> <br />· Transfer of the property is needed in order for the IDA to finalize its financing and to <br />commence construction of the Project. <br /> <br />· The property is comprised of several smaller individual parcels which are either <br />owned or to be acquired by the City. <br /> <br />Financial Impact: <br /> <br />· The property is part of a total Project budget estimated to be $8 million. <br /> <br />· The Project is expected to pay for itself through a combination of Project revenues <br />and new taxes generated. <br /> <br />1. Mark Geduldig-Yatrofsky, 363 Middle Street, spoke on item not discussed <br /> adequately in public venue. <br /> <br /> Motion by Mr. Moody, and seconded by Mr. Whitehurst, to adopt the following <br />resolution, and was adopted by the following vote: <br /> <br />"A RESOLUTION AUTHORIZING THE CITY MANAGER TO CONVEY A PARCEL OF <br />LAND IN THE VICINITY OF THE DOWNTOWN TUNNEL TO THE INDUSTRIAL <br />DEVELOPMENT AUTHORITY OF THE CITY OF PORTSMOUTH, VIRGINIA. <br /> <br /> BE IT RESOLVED by the Council of the City of Portsmouth, Virginia, that the <br />City Manager be, and he hereby is, authorized to execute and deliver a deed or deeds <br />conveying to the Industrial Development of the City of Portsmouth, Virginia (the "IDA") a <br />parcel of land in the vicinity of the Downtown Tunnel (the "Property"). The Property is <br />comprised of several individual component parcels, which may be conveyed individually <br />or collectively, in such order or sequence as the City Manager deems advisable. The <br />Property is generally described as follows: <br /> <br /> <br />