Legislation # 06-0202 Enactment Number none
Type Acquisitions Effective Date none
Introduction Date 4/5/2006
Title A Resolution Authorizing the Execution of An Agreement of Sale For The Purchase of Property known as 1801/1805 N. Mallory Street, from Myron D. Harrelson and Bryce E. Hinkle.
 
Legislation History 06-0202
DateNotice Of ActionDescription
4/12/2006 Approved items 1 through 8 on the consent agenda with the exception of the minutes from the March 29, 2006, budget work session.
4/3/2006 Received By Clerk's Office
 
View Attachments 06-0202
FileTypeSizeDescription
Harrelson.agr.doc Contract 57K Agreement of Sale
1801 N_Mallory.JPG Map 978K Aerial Map of 1801 N. Mallory
1801 N_Mallory_Aerial.JPG Photo 3622K Aerial photo of 1801 N. Mallory
1805 N_Mallory.JPG Map 988K Aerial Map of 1805 N. Mallory
1805 N_Mallory_Aerial.JPG Photo 3615K Aerial Photo of 1805 N. Mallory
 
Legislation Text 06-0202

 

City of Hampton, Virginia

Acquisitions

22 Lincoln Street

Hampton, VA 23669

www.hampton.gov

 

File Number: 06-0202

 

Enactment Number: -

 

A Resolution Authorizing the Execution of An Agreement of Sale For The Purchase of Property known as 1801/1805 N. Mallory Street, from Myron D. Harrelson and Bryce E. Hinkle.

 

WHEREAS, the Council of the City of Hampton has set as a priority the revitalization of Buckroe to attract investment, new business and new vitality to the Buckroe area through the adoption of the Buckroe Master Plan;

WHEREAS, staff has obtained a contract for the City to purchase two (2) 60 x 150 square foot parcels of real property located at 1801/1805 Mallory Street North in the Buckroe area (the Property) from Myron D. Harrelson and Bryce E. Hinkle, for $375,000.00 which consists of three (3) buildings, including one single family unit, one duplex and one boarding house;

WHEREAS, the purchase price of $375,000.00 is deemed fair and reasonable, the Agreement of Sale that is attached to this Resolution sets forth reasonable and acceptable terms, and funding to acquire the Property, including all acquisition costs as set forth in Exhibit A attached hereto, will come from the Capital Projects Fund-Buckroe Acquisition/Demolition 2005 Bond Project; and

WHEREAS, the purchase of this Property is strategic for assemblage and development of Buckroe in accordance with the Buckroe Master Plan and is manifestly in the public interest.

NOW, THEREFORE, BE IT RESOLVED, by the Council of 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 Myron D. Harrelson and Bryce E. Hinkle, 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, deeds, easements, releases for sale and transfer, and conveyance of the Property; and

2. 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 April 12, 2006.

 

 

 

Signed by ____________________________ Date _________________

Ross A. Kearney, II, Mayor

 

 

 

 

Attested by ____________________________ Date _________________

Katherine K. Glass

Clerk of the Council

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Exhibit A

 

ACQUISITION COSTS

Land & Bldg. $ 375,000.00

Closing costs est $3,500.00

Demo. costs est $ 25,000.00

Total $ 403,500.00