Title
Resolution Authorizing the Transfer From the City of Hampton to the Economic Development Authority of the City of Hampton Two Parcels in Downtown Hampton, LRSN: 2003523 Known as 504 North King Street and LRSN 2003524 Known as 520 North King Street
Purpose
PURPOSE/BACKGROUND:
The City Council adopted a resolution wherein the Economic Development Authority was designated as the agency to implement the City’s Comprehensive plan as it relates to commercial and mixed use development.
The City originally acquired the above-mentioned property in downtown Hampton for commercial development and redevelopment before the adoption of the resolution. The City now desires to transfer the property to the EDA for redevelopment in accordance with the City’s Comprehensive Plan and 2004 Downtown Hampton Master Plan as amended.
City staff recommends the transfer of the City lots to the EDA.
No public hearing is required pursuant to Virginia Code §15.2-4917.
Discussion:
See purpose/background above.
Impact:
See purpose/background above.
Recommendation:
Rec
Approve the Resolution.
Body
WHEREAS, the City of Hampton ("City") owns two parcels of land in the Downtown Hampton area of the City of Hampton, Virginia which it desires to transfer to the Economic Development Authority of the City of Hampton ("EDA”);
WHEREAS, these sites are generally described as 504 North King Street, LRSN: 2003523; and 520 North King Street, LRSN: 2003524;
WHEREAS, the City Council has designated the EDA as the agency to implement the City's Comprehensive Plan as it relates to commercial and mixed use development and redevelopment; and
WHEREAS, the City desires to transfer title to the parcels generally described above to the EDA for redevelopment in accordance with the City's Comprehensive Plan.
NOW, THEREFORE, BE IT ORDAINED, by the Council of the City of Hampton, Virginia, as follows:
1. That it approves the transfer to the EDA of the parcels of land located in the City of Hampton in the Downtown Hampton area and generally described above for redevelopment in accordance with the City's Comprehensive Plan; and
2. That the City Manager or her authorized designee and the Clerk are authorized to execute and deliver to the EDA any and all necessary legal documents to effect the transfer; such documents shall include, but not be limited to, contracts, deeds, releases for sale and transfer, and conveyance of the parcels generally described above in the Downtown Hampton area of the City of Hampton, Virginia.