Legislation # 09-0259 Enactment Number none
Type Resolution Effective Date 6/10/2009
Introduction Date 6/10/2009
Title Resolution approving the terms of a Development Agreement by and among the City of Hampton (the "City"), the Hampton Redevelopment and Housing Authority (the "Authority") and Buckroe Beach Development, LLC, (the "Developer") and a Cooperation Agreement between the City of Hampton and the Authority, and authorizing the execution and delivery thereof for the proposed residential development in the Buckroe area.
 
Legislation History 09-0259
DateNotice Of ActionDescription
6/10/2009 Approved
6/5/2009 Received By Clerk's Office
 
View Attachments 09-0259
FileTypeSizeDescription
Cooperation Agreement.DOC Advertisement 53K Cooperation Agreement
Exhibit A for Dev Agreement.pdf Exhibit 6117K Exhibit A for Development Agreement
Development Agreement.pdf Contract 2483K Development Agreement
Exhibit B to Dev Agree.pdf Exhibit 199K Exhibit B
Exhibit C to Dev Agree.pdf Exhibit 1525K Exhibit C to Development Agreement
 
Legislation Text 09-0259

 

City of Hampton, Virginia

Resolution

22 Lincoln Street

Hampton, VA 23669

www.hampton.gov

 

File Number: 09-0259

 

Enactment Number: -

 

Resolution approving the terms of a Development Agreement by and among the City of Hampton (the "City"), the Hampton Redevelopment and Housing Authority (the "Authority") and Buckroe Beach Development, LLC, (the "Developer") and a Cooperation Agreement between the City of Hampton and the Authority, and authorizing the execution and delivery thereof for the proposed residential development in the Buckroe area.

 

RESOLUTION

WHEREAS, the Council of the City of Hampton (the Council) has set as a priority the revitalization of the Buckroe Beach area to attract investment, new business and new vitality to Buckroe and has adopted the 2005 Buckroe Master Plan, as amended, and the 2007 Buckroe Bayfront Pattern Book, which inter alia calls for residential development in the Buckroe Beach area;

WHEREAS, Buckroe Beach Development LLC (the Developer), managed by William Fuller and Bruce Smith, is one of two successful respondents chosen by the City to co-develop certain properties in the Buckroe area, and has proposed to construct in conformance with the 2005 Buckroe Master Plan, as amended, the 2007 Buckroe Bayfront Pattern Book, and the SPI-BBD zoning regulations, an upscale residential project on a certain parcel of real property located in the Buckroe Area of the City of Hampton, depicted as Parcel One consisting of one lot totaling 59,459 square feet (1.365 acres) (the Property) as shown on the map attached hereto as Exhibit A, together with an option to construct new residential housing on Parcel Three consisting of four (4)lots totaling 22, 500 square feet (.5165 acres) and one (1) lot totaling 13,500 square feet (.31 acres)(Parcel Three Option Parcel), and an option to construct new residential housing fronting Boardwalk Way and a mixed use building or a hotel fronting Buckroe Avenue on a parcel of real property bounded by 2nd Street, Buckroe Avenue, 1st Street and Boardwalk Way and totaling 72, 497 square feet (1.6644 acres), depicted as Parcel Four (the Parcel Four Option Parcel) as shown on the map attached hereto as Exhibit A (the Project);

WHEREAS, by Ordinance duly adopted on June 10, 2009, the City authorized the conveyance of all parcels necessary to effect the assemblage of property for the Project to the Hampton Redevelopment and Housing Authority (HRHA);

 

WHEREAS, by Resolution adopted May 27, 2009, the HRHA authorized the conveyance of the Property to the Developer and the execution of a Development Agreement with the Developer and the City together with all related documents, subject to Councils adoption of an ordinance conveying certain parcels in Buckroe to the Authority and a resolution approving the Development Agreement and authorizing the execution and delivery of a Cooperation Agreement;

WHEREAS, the Council has determined that the attached Development Agreement sets forth reasonable and acceptable terms under which the Project will be developed and the Project will increase tax revenues, improve the image and economic vitality of the Buckroe Beach area and stimulate its redevelopment, and is therefore in the best interest of the citizens of the City of Hampton.

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

1. That it approves the attached Development Agreement with Buckroe Beach Development LLC and the Hampton Redevelopment and Housing Authority and the Cooperation Agreement with the Hampton Redevelopment and Housing Authority; and

2. That the City Manager or his authorized Designee is hereby authorized to execute and deliver the Development Agreement and the Cooperation Agreement to the appropriate parties.

Adopted at the regular meeting of the City Council of the City of Hampton, Virginia held on June 10, 2009.

 

 

 

Signed by ____________________________ Date _________________

Molly Joseph Ward, Mayor

 

 

 

 

Attested by ____________________________ Date _________________

Katherine K. Glass

Clerk of the Council