City of Hampton - File #: 23-0262

• File #: 23-0262
• Version: 1
• Name: City to Accept $100,000.00 Parks Donation
• Type: Consent Item
• Status: Passed
• File created: 8/28/2023
• In control: City Council Legislative Session
• On agenda: 9/13/2023
• Final action: 9/13/2023
• Title: Resolution to Amend the FY 2024 Council Approved Budget to Accept and Appropriate a $100,000.00 Gift from NP Hampton Commerce Center, LLC, Paid to the Economic Development Authority of the City of Hampton, Virginia, Pursuant to that Certain Development Agreement Dated November 9, 2022 for the Sale and Development of 750 Shell Road
• Indexes: Annual Budget Appropriations, DO NOT USE - 21 - Good Government
• Code sections: 2-134 - Council approval prerequisite to acceptance of certain gifts to city; gifts for undercover law enforcement investigations; inventory of gifts.

Date	Ver.	Action By	Action	Result
9/13/2023	1	City Council Legislative Session	approved	Pass

Title
Resolution to Amend the FY 2024 Council Approved Budget to Accept and Appropriate a $100,000.00 Gift from NP Hampton Commerce Center, LLC, Paid to the Economic Development Authority of the City of Hampton, Virginia, Pursuant to that Certain Development Agreement Dated November 9, 2022 for the Sale and Development of 750 Shell Road

Purpose
PURPOSE/BACKGROUND:
The Economic Development Authority of the City of Hampton, Virginia (the "EDA") and NP Hampton Commerce Center, LLC ("NP") entered into that certain Development Agreement dated November 9, 2022 ("Development Agreement") for the sale and development of 750 Shell Road, in conjunction with the development of 700 Shell Road, with those parcels comprising the former site for the Virginia School for the Deaf, Blind, and Multi-Disabled at Hampton. As a condition of Closing, NP committed to contribute to the City $100,000 for use by the City for the future planning, design, and construction of any passive or active, non-commercial use of those certain 10+/- acres of City-owned land adjacent to the Virginia School site to commemorate the historic Virginia School. The EDA and NP closed on the transaction on August 9 ,2023. That $100,000 donation was paid by NP to the EDA in conjunction with all other funds paid at Closing. This action is to transfer those donated funds to the City for use as set forth in the Development Agreement, or such other use as may be agreed to by the EDA, NP, and the City, subject to community engagement and an executed amendment to the Development Agreement memorializing agreement to such other use.

Discussion:
See Purpose/Background above.

Impact:

See Purpose/Background above.

Recommendation:
Rec
Approve the Resolution.

Body


WHEREAS, NP Hampton Commerce Center, LLC ("NP") agreed, pursuant to a Development Agreement between NP and the Economic Development Authority of the City of Hampton, Virginia (the "EDA") dated November 9, 2022 (the "D...