Legislation # 07-0295 Enactment Number none
Type Acquisitions Effective Date none
Introduction Date 5/23/2007
Title A Resolution authorizing the execution of an Agreement of Sale for the purchase of 1509 N. Armistead Avenue from Arnold J. and Katherine M. Lorea.
 
Legislation History 07-0295
DateNotice Of ActionDescription
5/23/2007 Adopted
5/14/2007 Received By Clerk's Office
 
View Attachments 07-0295
FileTypeSizeDescription
PurchContr.doc Contract 71K Agreement of Sale
Lease.Short-term.doc Other 74K Short Term Lease
Planimetric_Map.pdf Map 1261K Planimetric map
Aerial_Map.pdf Map 2202K Aerial Map
Update_5-10-07.pdf Map 2329K Crossroads Acquisitions Status Map
 
Legislation Text 07-0295

 

City of Hampton, Virginia

Acquisitions

22 Lincoln Street

Hampton, VA 23669

www.hampton.gov

 

File Number: 07-0295

 

Enactment Number: -

 

A Resolution authorizing the execution of an Agreement of Sale for the purchase of 1509 N. Armistead Avenue from Arnold J. and Katherine M. Lorea.

 

 

WHEREAS, city staff has negotiated an Agreement of Sale for the City to acquire 1509 N. Armistead Avenue from Arnold J. and Katherine M. Lorea;

 

WHEREAS, 1509 N. Armistead Avenue consists of a 12,525+/- square foot parcel of land zoned R-11, which is improved with a 2,213+/- square foot residential dwelling, (the Property);

 

WHEREAS, the Property purchase price of $303,000 is deemed fair and reasonable, the terms of the attached Agreement of Sale are acceptable, and funding to acquire the Property, including all acquisition costs in the sum of approximately $310,700 as set forth in Exhibit A will come from the unappropriated bond interest income account; and

 

WHEREAS, the purchase of this Property is strategic for assemblage of open space for the development of Newmarket Creek Park in accordance with the Comprehensive Plan and is manifestly in the public interest.

 

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

 

1. That the City Manager or his designee is hereby authorized and directed to (i) execute the Agreement of Sale with Arnold J. and Katherine M. Lorea, in substantially the form attached to this resolution, with such modifications as the City Manager or his designee, on the advice of counsel, believes to be in the interest of the City, and (ii) any and all necessary legal documents to effectuate the transfer of title; such documents shall include, but not be limited to, contracts, leases, deeds, easements, releases for sale of transfer, and conveyance of the Property; and

 

2. That the Council appropriates $310,700 from the unappropriated bond interest income account; and

 

3. That this Resolution shall be effective upon adoption.

 

Adopted at the regular meeting of the City Council of the City of Hampton, Virginia held on May 24, 2007.

 

 

Signed by ____________________________ Date _________________

Ross A. Kearney, II, Mayor

 

 

 

 

Attested by ____________________________ Date _________________

Katherine K. Glass

Clerk of the Council