Legislation # 06-0757 Enactment Number none
Type Contract / Agreement Effective Date 1/10/2007
Introduction Date 1/10/2007
Title A Resolution Approving the Terms and Authorizing the Execution of a Cooperation Agreement Between the Hampton Redevelopment and Housing Authority and the City of Hampton for the Sandler Condominium and Townhome Project in Coliseum Central.
 
Legislation History 06-0757
DateNotice Of ActionDescription
1/10/2007 Approved Item 1 through 11 on the consent agenda.
12/22/2006 Received By Clerk's Office
 
View Attachments 06-0757
FileTypeSizeDescription
COOPERATION AGREEMENT-HRHA-City-Sandler-11-28-06 (2).doc Exhibit 47K Cooperation Agreement
 
Legislation Text 06-0757

 

City of Hampton, Virginia

Contract / Agreement

22 Lincoln Street

Hampton, VA 23669

www.hampton.gov

 

File Number: 06-0757

 

Enactment Number: -

 

A Resolution Approving the Terms and Authorizing the Execution of a Cooperation Agreement Between the Hampton Redevelopment and Housing Authority and the City of Hampton for the Sandler Condominium and Townhome Project in Coliseum Central.

 

WHEREAS, the Council of the City of Hampton (the Council) has set as a priority the revitalization of Coliseum Central to attract investment, new business and new vitality to the area and has adopted the Coliseum Central Master Plan, which encourages residential development and the creation of dense, connected, and pedestrian-friendly activity centers in identified areas; and

 

WHEREAS, the Hampton Redevelopment and Housing Authority (the Authority) proposes to effect such revitalization through the development of a first-class condominium and townhome residential project (the Project) and has entered into a Development Agreement with Sandler At Coliseum Central, L.L.C., a Virginia limited liability company for this purpose; and

 

WHEREAS, the Council has determined that the development of the Sandler Project will increase tax revenues, improve the image and economic vitality of Coliseum Central and stimulate its redevelopment, and is therefore in the best interest of the citizens of the City of Hampton: and

 

WHEREAS, the City Council is willing to financially participate in the Project by entering into a Cooperation Agreement to meet the obligations of the Authority for the Project, subject to appropriation; and

 

WHEREAS, the City Council has determined that the transactions negotiated with the developer as set forth in the Development Agreement, as amended, are acceptable.

 

NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Hampton, Virginia as follows:

 

1. That it approves the terms of the Cooperation Agreement attached hereto; and

 

2. That the City Manager or his Authorized Designee be and is hereby authorized to execute and deliver to the Hampton Redevelopment and Housing Authority the Cooperation Agreement in substantially the form attached hereto.

 

Adopted at the regular meeting of the City Council of the City of Hampton, Virginia held on January 10, 2007.

 

 

 

Signed by ____________________________ Date _________________

Ross A. Kearney, II, Mayor

 

 

 

 

Attested by ____________________________ Date _________________

Katherine K. Glass

Clerk of the Council