Legislation # 08-0154 Enactment Number none
Type Resolution Effective Date 4/30/2008
Introduction Date 4/30/2008
Title Resolution (a) Approving the Terms of a Development Agreement Among the City of Hampton (the “City”), the Hampton Redevelopment and Housing Authority (the “Authority”) and the Kicotan Co., Inc. (“Kicotan”), a Ground Lease Between Kicotan and the Authority, and a Cooperation Agreement Between the City of Hampton and the Authority, (b) Authorizing the Execution and Delivery of Same, and (c) Designating Kicotan as the Sole Source Contractor for Certain On and Off-Site Infrastructure Improvements at Kings Way and Queens Way.
 
Legislation History 08-0154
DateNotice Of ActionDescription
4/30/2008 Approved
4/17/2008 Received By Clerk's Office
 
View Attachments 08-0154
FileTypeSizeDescription
Summary of Terms.DOC Other 55K Summary of Terms
Development Agreement.DOC Other 180K Development Agreement
Ground Lease.DOC Other 188K Ground Lease
Cooperation Agreement.DOC Other 51K Cooperation Agreement
King Queen Exhibit A revised.pdf Exhibit 10639K Exhibit A Dev Agreement
King Queen Exhibit B.pdf Exhibit 10595K Exhibit B Dev Agreement
Exhibit C.pdf Exhibit 286K Exhibit C Dev Agreement
 
Legislation Text 08-0154

 

City of Hampton, Virginia

Resolution

22 Lincoln Street

Hampton, VA 23669

www.hampton.gov

 

File Number: 08-0154

 

Enactment Number: -

 

Resolution (a) Approving the Terms of a Development Agreement Among the City of Hampton (the City), the Hampton Redevelopment and Housing Authority (the Authority) and the Kicotan Co., Inc. (Kicotan), a Ground Lease Between Kicotan and the Authority, and a Cooperation Agreement Between the City of Hampton and the Authority, (b) Authorizing the Execution and Delivery of Same, and (c) Designating Kicotan as the Sole Source Contractor for Certain On and Off-Site Infrastructure Improvements at Kings Way and Queens Way.

 

RESOLUTION

WHEREAS, the Council of the City of Hampton (the Council) has set as a priority the revitalization of downtown to attract investment, new business and new vitality to downtown and has adopted the 2004 Downtown Master Plan, as amended, which inter alia calls for mixed-use development in downtown Hampton;

WHEREAS, Kicotan, the successful respondent to the Citys request for proposals, has proposed a mixed-use project consisting of a four-story retail/office/residential building with associated parking on parcels owned by the Authority and the City respectively, and located at the corner of Kings Way and Queens Way (the Project), and a mixed-use project on the City-owned lot fronting Queens Way on an option basis (the Option);

WHEREAS, Kicotan shall be the Citys contractor to construct certain on-site and off-site infrastructure improvements integral to the development of the Project (the Infrastructure Improvements);

WHEREAS, the Project and the Option together with the Infrastructure Improvements are collectively referred to as the Kicotan Project;

WHEREAS, the Authority has determined that the Kicotan Project would (i) further the economic development of downtown Hampton and the Authoritys priorities in the direct and indirect economic benefits provided, and (ii) will attract investment, new business and new vitality to the City of Hampton;

WHEREAS, the Council has determined that the Kicotan Project will increase tax revenues, improve the image and economic vitality of downtown Hampton 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 Kicotan Project by entering into a Cooperation Agreement to meet the obligations of the Authority for the Kicotan Project, subject to appropriation; and

WHEREAS, the City Council has determined that the transactions negotiated with Kicotan as set forth in the Development Agreement and the Ground Lease are acceptable.

NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF HAMPTON, VIRGINIA:

 

1. That it approves the terms of the Development Agreement, the Ground Lease and the Cooperation Agreement attached hereto and, accordingly, the City Manager or his authorized Designee is hereby authorized to execute and deliver same to Kicotan and the Authority, respectively, together with any and all necessary legal documents to effect the transfer of title to real property; such documents shall include, but not be limited to, contracts, agreements, deeds, easements, and releases;

2. That pursuant to the Development Agreement, the logistical integrity of the overall Project and the timing of construction activity and design, would be threatened if the Project and Infrastructure Improvements are constructed by different entities, and accordingly, Kicotan is the only source practicable to construct the Infrastructure Improvements for the Project, and is thus designated as the contractor and designer for the construction of same; and

3. That the notice awarding the services to construct the Infrastructure Improvements for the Project to the Kicotan Co., Inc. shall be posted in a public place pursuant to Virginia Code 2.2-4303.E.

 

Adopted at the regular meeting of the City Council of the City of Hampton, Virginia held on April 30, 2008.

 

 

 

Signed by ____________________________ Date _________________

Ross A. Kearney, II, Mayor

 

 

 

 

Attested by ____________________________ Date _________________

Katherine K. Glass

Clerk of the Council