Legislation # 07-0075 Enactment Number none
Type Resolution Effective Date 2/14/2007
Introduction Date 2/14/2007
Title Resolution authorizing the transfer of 19.5 +/- acres of real property at the corner of Coliseum Drive and Pine Chapel Road in the Crossroads area to XL Development Group I, L.P. and the execution of the Development/Acquisition Agreement for the Crossroads mixed-use complex.
 
Legislation History 07-0075
DateNotice Of ActionDescription
2/28/2007 Adopted
2/2/2007 Received By Clerk's Office
 
View Attachments 07-0075
FileTypeSizeDescription
19acres1-05 agr clean version (3).DOC Other 321K Development/Acquisition Agreement
19 Acre - Dev Agree_17Jan2007 Exh A.pdf Exhibit 777K Exhibit A to Development Agreement
Staging Area_BestProducts Exhib A for Right of Entry.pdf Exhibit 272K Exhibit to Right of Entry
Exhibit B Dev Agree Site plan.pdf Exhibit 274K Exhibit B to Dev. Agreement -Site Plan
FINAL Public-Private Partnerships Pete Version 022820071-RAG Edits.ppt Power Point Presentation 62K Vice Mayor Gilliland's Slides
 
Legislation Text 07-0075

 

City of Hampton, Virginia

Resolution

22 Lincoln Street

Hampton, VA 23669

www.hampton.gov

 

File Number: 07-0075

 

Enactment Number: -

 

Resolution authorizing the transfer of 19.5 +/- acres of real property at the corner of Coliseum Drive and Pine Chapel Road in the Crossroads area to XL Development Group I, L.P. and the execution of the Development/Acquisition Agreement for the Crossroads mixed-use complex.

 

RESOLUTION

WHEREAS, the Council of the City of Hampton (the Council) has set as a priority in the 2004 Coliseum Central Master Plan, as amended, the development of a 19.5 acres parcel of City-owned land located at the corner of Coliseum Drive and Pine Chapel Road in the Crossroads Area (the Property) for the construction of a signature mixed-use complex consisting of (i) a full service hotel, (ii) retail/restaurant/entertainment space; (iii) residential and office space; and (iv) surface and structured parking;

 

WHEREAS, the Council has determined that a mixed-use development on the Property is a critical component of the Coliseum Central Master Plan because it is one of the new developments that is expected to synergize the strong commercial and residential district with such diverse offerings such as the Hampton Coliseum, the Hampton Roads Convention Center, the Power Plant with Bass Pro Shops, Peninsula Town Center; H2O residential community and Sentara Medical Campus;

 

WHEREAS, XL Development Group I, L.P. (XL), the successful respondent to the Citys request for qualifications, has proposed a mixed-use project for the Property comprised of (i) a 250-300 room full service hotel; (ii) a theater with a minimum of 2000 seats; (iii) a combination of at least 100,000 square feet of retail/restaurant and entertainment space; (iv) a combination of office/residential loft space; (v) a combination of surface parking and structured parking; (vi) approximately 30 townhomes; and (vii) a water feature to tie into and blend with the Citys proposed water feature next to the Hampton Coliseum (the Mixed-Use Complex);

 

WHEREAS, staff has negotiated a Development/Acquisition Agreement for the Property which will add to the synergy of the other new anticipated developments in the strategic quadrant of Crossroads Area and further Councils priorities in the direct and indirect economic benefits provided;

WHEREAS, the Council finds that the development of the Mixed-Use Complex on the Property (i) will further the economic development of City of Hampton and the Councils priorities in the direct and indirect economic benefits provided, (ii) will increase tax revenues, and (iii) is in the best interests of its citizens; and

 

WHEREAS, the Council finds that the terms and conditions of the Development/Acquisition Agreement are acceptable.

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

 

1. That it approves the Transfer of the Property to XL Development Group I, L.P. and, accordingly, the City Manager or his authorized Designee is hereby authorized to execute and deliver to XL any and all necessary legal documents to effect the transfer of title to the Property; such documents shall include, but not be limited to, contracts, deeds, easements, and releases for sale and transfer, and conveyance of the Property described above, and shall be in a form that shall substantially comply with the terms of this resolution with such completions, omissions, insertions and changes that may be approved by the Officer executing said documents; that the Officers execution of such documents shall constitute conclusive evidence of the Officers approval of such completion, omission, insertion and change; and

 

2. That it approves the terms of the Development/Acquisition Agreement and accordingly, the City Manager or his Authorized Designee is hereby authorized to execute and deliver the aforesaid document to the appropriate parties in substantially the form attached hereto.

 

THIS RESOLUTION REQUIRES AN AFFIRMATIVE VOTE OF THREE-FOURTHS OF ALL OF THE MEMBERS ELECTED TO COUNCIL

 

 

Adopted at the regular meeting of the City Council of the City of Hampton, Virginia held on February 14, 2007.

 

 

 

Signed by ____________________________ Date _________________

Ross A. Kearney, II, Mayor

 

 

 

 

Attested by ____________________________ Date _________________

Katherine K. Glass

Clerk of the Council