Minutes 10/26/1999 - Laserfiche WebLink

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October 26, 1999 BE IT RESOLVED by the Council of the City of Portsmouth, Virginia that the City Manager be, and he hereby is, authorized to dedicate a strip of land lying between County Street and Columbia Street for the widening of Crawford Street by such deeds, plats or other instruments as may be required to implement this resolution, said property being described as follows, to-wit: All that certain piece, or parcel of land, situate in the City of Portsmouth, Virginia, and being shown as 1671 square feet, or 0.0384 acres, on that certain exhibit entitled: "Exhibit Showing Property to be Dedicated for Street Widening Purposes, Portsmouth, Virginia", dated October 18, 1999, made by Stephen I. Boone & Associates, P.C. Ayes: Benn, Griffin, Moody, Pitts, Robinett, Whitehurst, Holley Nays: None 99 - 240 - Adoption of a resolution authorizing the City Manager to enter into a lease purchase agreement for property owned by Sweetbriar Development Corporation near the intersection of Victory Boulevard and Greenwood Drive. Recommendation: · Adoption of a resolution authorizing the City Manager to enter into a lease purchase agreement for property owned by Sweetbriar Development Corporation near the intersection of Victory Boulevard and Greenwood Drive. Purpose and Need: · This five-year lease purchase agreement provides that the City will lease from Sweetbriar a parcel of land near the intersection of Greenwood Drive and Victory Boulevard and across from the new Portsmouth Corporate Center. Financial Impact: · This lease purchase agreement requires quarterly payments of $11,477 for five years. · These payments will not be reflected in the City's debt structure. 1. Mark Geduldig-Yatrofsky, 363 Middle Street, asked for additional information on the item. Motion by Mr. Whitehurst, and seconded by Mr. Moody, to adopt the following resolution, and was adopted by the following vote: "A RESOLUTION AUTHORIZING THE CITY MANAGER TO ENTER INTO A LEASE AGREEMENT WITH SWEETBRIAR DEVELOPMENT CORPORATION FOR PROPERTY LOCATED AT THE SOUTHEAST INTERSECTION OF VICTORY BOULEVARD AND GREENWOOD DRIVE. BE IT RESOLVED by the Council of the City of Portsmouth, Virginia that the City Manager be, and he hereby is, authorized to enter into a lease with Sweetbriar Development Corporation for property located at the intersection of Victory Boulevard and Greenwood Drive, by which agreement the City of Portsmouth will lease said property for a period of five (5) years, said lease to provide further (1) that should the lease run for its full term, Sweetbriar Development Corporation will convey fee simple title to the City of Portsmouth in consideration of the Lease Payments and the sum of Two Hundred ($200.00) Dollars, (2) that the City may accelerate its purchase of the property by appropriate notice to Sweetbriar Development Corporation. Said property to be more particularly described in the lease and by survey, as approved as to form and accepted by the Office of the City Attorney." Ayes: Benn, Griffin, Moody, Pitts, Robinett, Whitehurst, Holley Nays: None 99 - 241 - Adoption of a resolution authorizing the City Manager to convey seven parcels of land and associated easements to the Virginia Department of Transportation for the Pinners Point Interchange Project at a total price $13,305.