Legislation # 09-0227 Enactment Number none
Type Resolution Effective Date 6/10/2009
Introduction Date 6/10/2009
Title Resolution to approve a Development Agreement between the City and POH 2010, LLC for the proposed residential development in the Buckroe area and authorize the execution and delivery thereof.
 
Legislation History 09-0227
DateNotice Of ActionDescription
6/10/2009 Approved
5/28/2009 Received By Clerk's Office
 
View Attachments 09-0227
FileTypeSizeDescription
Development Agreement.pdf Exhibit 2078K Development Agreement
Exhibit A.pdf Exhibit 1580K Exhibit A
 
Legislation Text 09-0227

 

City of Hampton, Virginia

Resolution

22 Lincoln Street

Hampton, VA 23669

www.hampton.gov

 

File Number: 09-0227

 

Enactment Number: -

 

Resolution to approve a Development Agreement between the City and POH 2010, LLC for the proposed residential development in the Buckroe area and authorize the execution and delivery thereof.

 

RESOLUTION

WHEREAS, the Council of the City of Hampton (the Council) has set as a priority the revitalization of the Buckroe Beach area to attract investment, new business and new vitality to Buckroe and has adopted the 2005 Buckroe Master Plan, as amended, and the 2007 Buckroe Bayfront Pattern Book, which inter alia calls for residential development in the Buckroe Beach area;

WHEREAS, POH 2010, LLC (the Developer) is one of two successful respondents chosen by the City to co-develop certain properties in the Buckroe area, and has proposed to construct in conformance with the 2005 Buckroe Master Plan, as amended, the 2007 Buckroe Bayfront Pattern Book, and the SPI-BBD zoning regulations a residential project on those certain parcels of real property located in the Buckroe Area of the City of Hampton, Virginia depicted as Parcel Two consisting of four (4) City-owned lots totaling 172,622 square feet (3.96 acres) (the Property) as shown on the Map attached and labeled Exhibit A;

WHEREAS, pursuant to the attached Development Agreement, the Developer will develop the project in two phases as follows:

(a) The first phase will be a Buckroe Parade of Homes developed in conjunction with the Peninsula Housing & Builders Association, featuring seven (7) single-family homes, two (2) mansion style homes (each containing four (4) residential units), and two (2) mansion style homes (each containing three (3) residential units) on one-half of the Property on the corner bordering Pembroke Avenue and 2nd Street, and completed on or before May 6, 2010 but no later than June 30, 2010; and

(b) The second phase will consist of five (5) single family homes, two (2) additional 4-unit mansion style homes, and two (2) additional 3-unit mansion style homes to be constructed by the builders who participated in the Parade of Homes (or their assigns), and completed on or before June 30, 2012 (the phases collectively are referred to as the Project); and

WHEREAS, the Council has determined that the attached Development Agreement sets forth reasonable and acceptable terms under which the Project will be developed and the Project will increase tax revenues, improve the image and economic vitality of the Buckroe Beach area and stimulate its redevelopment, and is therefore in the best interest of the citizens of the City of Hampton.

NOW, THEREFORE, BE IT RESOLVED, by the Council of the City of Hampton, Virginia, that it approves the attached Development Agreement with POH 2010 LLC and that the City Manager or his authorized Designee is hereby authorized to execute and deliver the Development Agreement to POH 2010, LLC.

Adopted at the regular meeting of the City Council of the City of Hampton, Virginia held on June 10, 2009.

 

 

Signed by ____________________________ Date _________________

Molly Joseph Ward, Mayor

 

 

 

 

Attested by ____________________________ Date _________________

Katherine K. Glass

Clerk of the Council