Title
Resolution Approving A Vacation Agreement Between Phenix Industrial, LLC, NP Hampton Commerce Center, LLC, and the City of Hampton, Virginia Pertaining to Vacation of a 71,960± Square Foot Portion of a Public Right of Way Known As Pine Avenue Adjacent to 700 Shell Road
Purpose
Background Statement
The Economic Development Authority of the City of Hampton, Virginia and NP Hampton Commerce Center, LLC ("NP Hampton") have negotiated a development agreement pertaining to 700 and 750 Shell Road in Hampton. Additional information about the proposed project is contained within agenda item number 22-0290, which is a rezoning application. This item pertains to a 71,960=/- square foot portion of a public right-of-way designated as Pine Avenue, which is situated between the project site and Aberdeen Road (the "Pine Avenue Vacation Area"). The Pine Avenue Vacation area is necessary for the development of the proposed project. The attached agreement would vacate the Pine Avenue Vacation Area and convey title to NP Hampton in accordance with Section 2.05 of the Hampton City Charter, after all of the applicable conditions are met.
Recommendation:
Rec
Adopt the resolution.
Body
WHEREAS, NP Hampton Commerce Center, LLC ("NP Hampton") is the contract purchaser of and may become the owner of certain parcels of property located in the City of Hampton known as 750 Shell Road (LRSN 13004501) and 700 Shell Road (LRSN 1004270);
WHEREAS, The Economic Development Authority of the City of Hampton, Virginia is the current owner of 750 Shell Road (LRSN 13004501) (the “EDA Property”);
WHEREAS, Phenix Industrial, LLC ("Phenix") is the current owner of 700 Shell Road (LRSN 1004270) (“the Phenix Property”);
WHEREAS, A 1.65+/- acre, 71,960+/- square foot portion of a 60’ public right-of-way known as Pine Avenue is located between the Phenix Property and Aberdeen Road City-owned right-of-way, as depicted on the attached plat entitled, “Plat Showing a Portion of Aberdeen Road/Pine A...
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