Legislation # 06-0547 Enactment Number none
Type Resolution Effective Date none
Introduction Date 9/27/2006
Title Resolution Authorizing the Transfer of 3.7 Acres of Real Property at Armistead Pointe to the Industrial Development Authority, and the Execution of the Development Agreement, Ground Lease, Cooperation Agreement and Use Agreement for the Boo Williams Amateur Sports Facility on Armistead Pointe.
 
Legislation History 06-0547
DateNotice Of ActionDescription
9/27/2006 Adopted
9/27/2006 Held Public Hearing
9/18/2006 Received By Clerk's Office
 
View Attachments 06-0547
FileTypeSizeDescription
WilliamsCityIDAterm sheet final.DOC Other 73K Summary of Terms
WilliamsCityIDADevelopment agrfinal.DOC Contract 203K Development Agreement
Williams Exhibit C.pdf Exhibit 919K Exhibit C to Development Agreement
WilliamsIDA lease final.doc Other 182K Ground Lease
WilliamsCityUse agr.doc Contract 72K Use Agreement
WilliamsCityIDACoop Agr.DOC Contract 54K Cooperation Agreement
sportsplex - 8sept2006-property.pdf Map 228K Sketch Showing Proposed Sportsplex
SPORTSPLEX _ AERIAL_8Sept2006.pdf Map 2123K Aerial Sketch
Evidence of LLC Formation - Certificate, Computer Printout, Letter Other 0K Evidence of LLC Formation - Certificate, Computer Printout, Letter
 
Legislation Text 06-0547

 

City of Hampton, Virginia

Resolution

22 Lincoln Street

Hampton, VA 23669

www.hampton.gov

 

File Number: 06-0547

 

Enactment Number: -

 

Resolution Authorizing the Transfer of 3.7 Acres of Real Property at Armistead Pointe to the Industrial Development Authority, and the Execution of the Development Agreement, Ground Lease, Cooperation Agreement and Use Agreement for the Boo Williams Amateur Sports Facility on Armistead Pointe.

 

RESOLUTION

WHEREAS, the Council of the City of Hampton (the Council) has set as a priority the development of a 3.7 acre portion of the a 90- acre parcel of City-owned land located at the intersection of North Armistead Avenue and Hampton Roads Center Parkway, and more commonly known as Armistead Pointe (the Property) for the construction of a 130,000 square foot indoor sports facility (the Facility), which shall also include a state-of-the-art indoor track that shall be made available for limited use by the citizens of Hampton and Hampton City Schools pursuant to a Use Agreement between the City and Boo Williams Sportsplex, LLC (Boo Williams) whose managing member is Marcellus Boo Williams ;

 

WHEREAS, the Council proposes to accomplish its priorities with respect to the development of the Property through transfer of title to the Property to the Industrial Development Authority of the City of Hampton, Virginia (the Authority) and entering into a Development Agreement with Boo Williams for the construction of the Facility;

 

WHEREAS, the Facility shall be operated under a long-term Ground Lease between the Authority and Boo Williams as authorized under Virginia Code 15.2-4917 and 15.2-4905, respectively;

 

WHEREAS, by duly adopted resolution dated September 19, 2006, the Authority approved the terms and conditions of the Development Agreement, the Ground Lease, and the Cooperation Agreement subject to Council approval and with the understanding that the Council would financially participate in the development of the Property and the construction and operation of the Facility by entering into the Cooperation Agreement to meet the obligations of the Authority under the Development Agreement and the Ground Lease, subject to appropriation;

 

WHEREAS, the Council is willing to financially participate in the development of the Property and the construction and operation of the Facility by entering into the Cooperation Agreement to meet the obligations of the Authority under the Development Agreement and the Ground Lease, subject to appropriation;

 

WHEREAS, the Council finds that the development of such a Facility 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, (iii) will enhance the image of Hampton as an Amateur Sports Mecca, and (iv) is in the best interests of its citizens; and

 

WHEREAS, the Council finds that the terms and conditions of the Development Agreement, the Ground Lease, the Cooperation Agreement and the Use 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 the Industrial Development Authority of the City of Hampton, Virginia and, accordingly, the City Manager or his authorized Designee is hereby authorized to execute and deliver to the Authority any and all necessary legal documents to effectuate 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 Agreement, the Ground Lease, the Cooperation Agreement and the Use Agreement and, accordingly, the City Manager or his Authorized Designee is hereby authorized to execute and deliver the aforesaid documents to the appropriate parties in substantially the form attached hereto.

 

 

Adopted at the regular meeting of the City Council of the City of Hampton, Virginia held on September 27, 2006.

 

 

 

Signed by ____________________________ Date _________________

Ross A. Kearney, II, Mayor

 

 

 

 

Attested by ____________________________ Date _________________

Katherine K. Glass

Clerk of the Council