Legislation # 06-0071 Enactment Number none
Type Ordinance - Coded Effective Date none
Introduction Date 2/8/2006
Title An Ordinance to amend and re-enact Chapter 2 of the City Code of the City of Hampton, Virginia by creating a new Article XVII, Titled “The Peninsula Town Center Community Development Authority”.
 
Legislation History 06-0071
DateNotice Of ActionDescription
2/22/2006 Adopted on Second and Final Reading
2/8/2006 Adopted on First Reading
1/25/2006 Received By Clerk's Office
 
View Attachments 06-0071
FileTypeSizeDescription
Coliseum CDA Ordinance - sent 1-26-06.DOC Other 500K Coliseum CDA Ordinance
 
Legislation Text 06-0071

 

City of Hampton, Virginia

Ordinance - Coded

22 Lincoln Street

Hampton, VA 23669

www.hampton.gov

 

File Number: 06-0071

 

Enactment Number: -

 

An Ordinance to amend and re-enact Chapter 2 of the City Code of the City of Hampton, Virginia by creating a new Article XVII, Titled The Peninsula Town Center Community Development Authority.

 

BE IT ORDAINED, by the Council of the City of Hampton, Virginia, that the Code of the City of Hampton, Virginia, be amended and re-enacted as follows:

 

Sec. 2-377. Created; composition; powers and duties; etc.

WHEREAS, the Virginia Water and Waste Authorities Act, Chapter 51, Title 15.2 of the Code of Virginia of 1950, as amended (the Act), authorizes the creation of a community development authority on the petition of the landowners of at least 51% of the land area or assessed value of land of a tract of any size within a city;

WHEREAS, the City Council of the City of Hampton, Virginia (the "City Council"), has received a petition (the "Petition") from Hampton Mall Associates, a Virginia general partnership (the "Landowner"), for the creation of the Peninsula Town Center Community Development Authority (the "CDA"), and the establishment of the boundaries of the Peninsula Town Center Community Development Authority District (the "CDA District");

WHEREAS, the Landowner has represented that it owns at least fifty-one percent (51%) of the land included in the proposed CDA District;

WHEREAS, a public hearing has been held on February 8, 2006, by the City Council on the adoption of this Ordinance and notice has been duly provided as set forth in 15.2-5104 and 15.2-5156 of the Act;

WHEREAS, the City Council proposes to create the CDA in order to provide the public improvements described in the Petition and to establish the boundaries of the CDA District;

WHEREAS, the creation of the CDA to assist in financing certain improvements in connection with the proposed development within the CDA District will benefit the citizens of the City of Hampton, Virginia (the "City"), by providing additional residential and commercial options in a network of connected public streets and urban park sites for the citizens of the City, as well as public improvements benefiting the citizens of the City, will promote economic development and redevelopment and expansion of the City's tax base and will meet the increased demands placed upon the City as a result of development within the CDA District; and

WHEREAS, the Landowner has waived in writing the right to withdraw its signature from the Petition in accordance with 15.2-5156(B) of the Act.

NOW, THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF HAMPTON, VIRGINIA:

1. Creation of Authority. The Peninsula Town Center Community Development Authority is hereby created as a public body politic and corporate and political subdivision of the Commonwealth of Virginia in accordance with the applicable provisions of the Act. The CDA shall have the powers set forth in the Act.

2. Boundaries of CDA. The CDA District is hereby established and the boundaries shall initially include the property identified in the attached Exhibit A. In accordance with 15.2-5157 of the Act, a copy of this Ordinance shall be recorded in the land records of the Circuit Court of the City of Hampton for each tax map parcel in the CDA District as such CDA District exists at the time of issuance of the CDA's bonds and the CDA District shall be noted on the land records of the City. The City Manager, upon the request of the CDA, may modify the boundaries of the CDA District before or after the issuance of the CDA's bonds to permit exchanges of certain property included in the CDA District for property owned by the City and located within the perimeter of the CDA District (but not included in the CDA District on the date hereof), up to 3 acres.

3. Facilities and Services. The CDA is created for the purpose of exercising the powers set forth in the Act, including without limitation, financing, funding, planning, establishing, acquiring, constructing or reconstructing, enlarging, extending, equipping, developing, operating, owning and maintaining if necessary, certain improvements in connection with the development of an urban residential and commercial town center as described in the Petition and the CDA's Articles of Incorporation. The CDA shall have all the powers provided by the Act. The CDA shall not provide services which are provided by, or obligated to be provided by, any authority already in existence pursuant to the Act unless such authority provides the certification required by 15.2-5155 of the Act.

4. Articles of Incorporation. Attached as Exhibit B are the proposed Articles of Incorporation of the CDA. The City Manager is authorized and directed to execute and file such Articles of Incorporation on behalf of the City Council with the State Corporation Commission in substantially the form attached as Exhibit B with such changes, including insubstantial changes to the boundary description of the CDA District described therein, as the City Manager may approve. The City Manager is authorized to approve such changes or corrections to the Articles of Incorporation prior to filing with the State Corporation Commission as do not change the purpose or function of the CDA as set forth in this Ordinance and in the Petition.

5. Capital Cost Estimates. The City Council hereby finds, in accordance with 15.2-5103(B) of the Act, that it is impracticable to include capital cost estimates.

6. Membership of the Authority.

(a) The powers of the CDA shall be exercised by an authority board consisting of five members.

(b) All members of the CDA board shall be appointed by the City Council in accordance with the provisions of 15.2-5113.

(c) One member of the CDA board shall be the City Manager or his designee, and such designee shall be designated in writing by the City Manager and shall serve the same fixed term as the City Manager.

(d) One member of the CDA board shall be the Landowners designee, and such designee shall be designated in writing by the Landowner.

(e) Three members of the CDA board shall be recommended by the Landowner for appointment by City Council.

(f) In addition to the five CDA board members described above, the City Council shall also appoint one alternate board member in a manner consistent with the Act.

(g) The initial members of the CDA board shall be as set forth in the Articles of Incorporation for the terms set forth therein.

(h) A vacancy on the CDA board caused by death, resignation, disqualification, or incapacity shall be filled by the City Council, except the City Manager shall appoint a replacement for any vacancy of the City Manager's designee, and such persons so appointed shall serve for the unexpired portion of the term so vacated, and except further that the Landowner shall appoint a replacement for any vacancy of the Landowner's designee, and such persons so appointed shall serve for the unexpired portion of the term so vacated.

(i) Each CDA board member, other than the City Manager or his designee, shall receive such compensation for his or her services as a CDA board member as may be authorized from time to time by resolution of the CDA board, provided that no member shall receive compensation in excess of $300 per meeting attended unless authorized by resolution of the City Council.

7. Plan of Finance; Issuance of Bonds.

(a) The improvements, services and operations to be undertaken by the CDA as described herein and in the Petition shall be funded from all or some of the following sources: (i) bonds to be issued by the CDA; (ii) a special ad valorem real estate tax to be levied pursuant to Virginia Code Section 15.2-5158(A)(3); (iii) special assessments to be levied pursuant to Virginia Code Section 15.2-5158(A)(5); (iv) certain amounts to be paid by the City to the CDA from incremental tax revenues generated within an area to be designated by the City, which amounts and sources will be determined pursuant to an agreement between the City and the CDA and may include certain incremental increases in the Citys real property, sales, meals and amusement taxes; and (v) any other source of funding available to the CDA including rates, fees and charges levied by the CDA for the services and facilities provided or funded by the CDA.

(b) Bonds to be issued by the CDA (the "Bonds"), in one or more series from time to time, will be used to pay all or a portion of the costs of certain public improvements as generally described herein and in the Petition, the costs of issuing the Bonds and any required reserves, and interest on the Bonds prior to and during acquisition and construction of such public improvements and for a period up to two (2) years after completion of such public improvements.

(c) Any Bonds issued by the CDA or any other financing arrangements entered into by the CDA will be debt of the CDA, will not be a debt or other obligation of the City and will not constitute a pledge of the faith and credit of the City.

8. Effective Date. This Ordinance shall take effect immediately.

 

Adopted on the second and final reading at a regular meeting of the City Council of the City of Hampton, Virginia, held on February 22, 2006.

 

___________________________

Mayor

 

 

Attest:

 

 

___________________________

Clerk

 

 

The undersigned Clerk of the City Council of the City of Hampton, Virginia, certifies that the foregoing constitutes a true, complete and correct copy of an Ordinance enacted at a regular meeting of the City Council of the City of Hampton, Virginia, held on February 22, 2006.

 

__________________________________________

Clerk, City Council, City of Hampton, Virginia

 

 

Exhibits:

A Initial CDA District Boundaries

B Proposed Articles of Incorporation

 


EXHIBIT A TO ORDINANCE

 

Initial CDA District Boundaries

 

Description of Community Development Authority Boundaries*

 

 

 

Property Owner

Parcel Name

City of Hampton

Tax ID

Square Feet

Acreage

Bagwell Investments, L.L.C.

Parcel A

(Includes Parcel A-2)

07F0010000000A

30,440

0.699

Bagwell Investments, L.L.C.

Parcel A-2

07F0010000000APC2

Parcel is Part of Parcel A, above

Bagwell Investments, L.L.C.

Parcel B

07F0010000000B

30,000

0.689

Bagwell Investments, L.L.C.

Parcel C

07F0010000000C

20,724

0.476

J.C. Penney Properties, Inc.

Lot 1

07F0010000001

555,896

12.762

Hampton Mall Associates

Lot 2 (Includes Leasehold)

07F0010000002

469,448

10.777

Hampton Mall Associates

Lot 3

07F0010000003

36,077

0.828

Hampton Mall Associates

Lot 4 (Includes Lot 4-A

& Lot 4-B)

07F0010000004

1,042,769

23.298

Hampton Mall Associates

Lot 5

07F0010000005

20,440

0.469

J.C. Penney Properties, Inc.

Lot 6

07F0010000006

91,603

2.103

Hampton Mall Associates

Lot 7

07F0010000007

233,218

5.354

Hampton Mall Associates

Lot 8

07F0010000008

21,700

0.498

Hampton Mall Associates

Lot 9 (Include Parcel 9A)

07F0010000009

771,648

17.714

Hampton Mall Associates

Lot 9A

07F0010000009A

Included in Parcel 9, above

Bagwell Investments, L.L.C.

Lot 10

07F0010000000PCB

28,440

0.653

Parcel A-2 only appears on the assessment maps. No evidence of property being two parcels

Parcel 9A is the footprint of the existing Hecht's Department Store (D.B. 503 Pg. 674)

 

 

*All of the public streets and rights of way located within or adjacent to the boundaries formed by the tax parcels described above are also included in the District.

 


EXHIBIT B TO ORDINANCE

 

Proposed Articles of Incorporation

 

Articles of Incorporation

of

Peninsula Town Center Community Development Authority

The undersigned, pursuant to Chapter 51, Title 15.2 of the Code of Virginia, adopts the following Articles of Incorporation for the Peninsula Town Center Community Development Authority and states as follows:

Article I

Name

The name of this authority is PENINSULA TOWN CENTER COMMUNITY DEVELOPMENT AUTHORITY (the "CDA").

Article II

Organization

Pursuant to an ordinance (the "Ordinance") adopted by the City Council of the City of Hampton, Virginia ("City Council") on February 22, 2006, the CDA shall be organized by the City of Hampton, Virginia under the Virginia Water and Waste Authorities Act (Chapter 51, Title 15.2 of the Code of Virginia of 1950, as amended) (the "Act"), as a public body politic and corporate and a political subdivision governed by the laws of the Commonwealth of Virginia.

Article III

Members

The affairs of the CDA shall be conducted by an authority board of five members ("CDA Board"). The initial CDA Board members are as set forth in Exhibit A attached hereto and incorporated by reference. All members shall be appointed by the City Council. One member of the CDA board shall be the City Manager or his designee. One member of the CDA board shall be the petitioner who petitioned the City Council for creation of the CDA or its designee. The City Council shall also appoint one alternate board member in a manner consistent with the Act. Each member shall serve a four year term, except the initial members who shall serve the terms of office set forth in Exhibit A hereto. The election of officers of the CDA shall be as set forth in the By-Laws of the CDA. Qualifications and appointment of members of the CDA Board shall be consistent with the requirements of the Act.

The CDA Board shall have the powers and duties set forth in the Act and in these Articles of Incorporation and the By-Laws, to the extent that such powers and duties are not inconsistent with the Act.

Article IV

Principal Office

The Authority's principal office shall be c/o Vincent J. Mastracco, Kaufman & Canoles, P.C., 150 West Main Street, Suite 2100, Norfolk, Virginia 23510. The Authority may conduct its business and maintain offices for such purposes at such other places within or without the City of Hampton, Virginia, as may from time to time be deemed advisable by the Board, and not in conflict with the requirements of the Act.

Article V

Authority District

The land initially encompassed within the CDA is set forth in Exhibit B attached hereto (the "Initial Authority District") provided that the City Manager, upon the request of the CDA, may modify the boundaries of the CDA District before or after the issuance of any Bonds issued by the CDA to permit exchanges of certain property included in the Initial Authority District for property owned by the City and located within the perimeter of the CDA District (but not included in the CDA District on the date of the Ordinance), up to 3 acres.

 

Article VI

Purposes and Powers

The CDA is organized for the purpose of exercising all powers granted by the Act, including financing, funding, planning, establishing, acquiring, constructing or reconstructing, enlarging, extending, equipping, operating and maintaining all or a portion of the public improvements generally described in the Petition attached hereto as Exhibit C to create the CDA. The CDA shall have all powers granted to a "community development authority" under the Act.

 

Article VII

Not-for-Profit

The CDA shall not be organized or operated for pecuniary gain or profit. No part of the net earnings of the CDA shall inure to the benefit of, or be distributable to any member, director, officer, or any other private person, except that the CDA shall be authorized and empowered to pay reasonable compensation for services rendered and to make payments in furtherance of the purposes set forth in Article VI.

Article VIII

Amendment of Articles

These Articles of Incorporation may be amended at any time and from time to time by the City Council as now or hereafter prescribed by the Act.

Article IX

Registered Office and Registered Agent

The address of the initial registered office of the Authority is c/o Vincent J. Mastracco, Kaufman & Canoles, P.C., 150 West Main Street, Suite 2100, Norfolk, Virginia 23510. The initial Registered Agent of the Authority is Vincent J. Mastracco, whose business address is identical to that of the initial registered office and who is a resident of Virginia and a member of the Virginia State Bar.

Article X

Initial Members

The names and addresses of the initial members of the CDA Board are as set forth on the attached and incorporated Exhibit A.

Article XI

Indemnification

(a) For purposes of this Article XI the following definitions shall apply:

(i) "expenses" include counsel fees, expert witness fees, and costs of investigation, litigation and appeal, as well as any amounts expended in asserting a claim for indemnification;

(ii) "liability" means the obligation to pay a judgment, settlement, penalty, fine, or other such obligation;

(iii) "legal entity" means a corporation, limited liability company, partnership, joint venture, trust, employee benefit plan or other enterprise; and

(iv) "proceeding" means any threatened, pending, or completed action, suit, proceeding or appeal whether civil, criminal, administrative or investigative and whether formal or informal.

(b) In every instance in which the Virginia Nonstock Corporation Act, as it exists on the date hereof or may hereafter be amended, permits the limitation or elimination of liability of directors or officers of a corporation to the corporation, the members, directors and officers of the CDA shall not be liable to the CDA.

(c) The CDA shall indemnify any individual who is, was or is threatened to be made a party to a proceeding (including a proceeding by or in the right of the CDA) because such individual is or was a member, director or officer of the CDA or because such individual is or was serving the CDA or any other legal entity in any capacity at the request of the CDA while a member, director or officer of the CDA, against all liabilities and reasonable expenses incurred in the proceeding except such liabilities and expenses as are incurred because of such individual's willful misconduct or knowing violation of the criminal law. Service as a member, director or officer of a legal entity controlled by the CDA shall be deemed service at the request of the CDA. The determination that indemnification under this paragraph (c) is permissible and the evaluation as to the reasonableness of expenses in a specific case shall be made, in the case of a member or director, as provided by law, and in the case of an officer, as provided in Section (d) of this Article; provided, however, that if a majority of the members of the CDA has changed after the date of the alleged conduct giving rise to a claim for indemnification, such determination and evaluation shall, at the option of the person claiming indemnification, be made by special legal counsel agreed upon by the CDA Board and such person. Unless a determination has been made that indemnification is not permissible, the CDA shall make advances and reimbursements for expenses incurred by a member, director or officer in a proceeding upon receipt of an undertaking from such member, director or officer to repay the same if it is ultimately determined that such member, director or officer is not entitled to indemnification. Such undertaking shall be an unlimited, unsecured general obligation of the member, director or officer and shall be accepted without reference to such member's, director's or officer's ability to make repayment. The termination of a proceeding by judgment, order, settlement, conviction, or upon a plea of nolo contendere or its equivalent shall not of itself create a presumption that a member, director or officer acted in such a manner as to make such member, director or officer ineligible for indemnification. The CDA is authorized to contract in advance to indemnify and make advances and reimbursements for expenses to any of its members, directors or officers to the same extent provided in this paragraph (c).

(d) The CDA may, to a lesser extent or to the same extent that it is required to provide indemnification and make advances and reimbursements for expenses to its members, directors and officers pursuant to paragraph (c) of this Article, provide indemnification and make advances and reimbursements for expenses to its employees and agents, the members, directors, officers, employees and agents of its subsidiaries and predecessor entities, and any person serving any other legal entity in any capacity at the request of the CDA, and may contract in advance to do so. The determination that indemnification under this paragraph (d) is permissible, the authorization of such indemnification and the evaluation as to the reasonableness of expenses in a specific case shall be made as authorized from time to time by general or specific action of the CDA Board, which action may be taken before or after a claim for indemnification is made, or as otherwise provided by law. No person's rights under paragraph (c) of this Article shall be limited by the provisions of this paragraph (d).

(e) The rights of each person entitled to indemnification under this Article shall inure to the benefit of such person's heirs, executors and administrators. Special legal counsel selected to make determinations under this Article may be counsel for the CDA. Indemnification pursuant to this Article shall not be exclusive of any other right of indemnification to which any person may be entitled, including indemnification pursuant to a valid contract, indemnification by legal entities other than the CDA and indemnification under policies of insurance purchased and maintained by the CDA or others. However, no person shall be entitled to indemnification by the CDA to the extent such person is indemnified by another, including an insurer. The CDA is authorized to purchase and maintain insurance against any liability it may have under this Article or to protect any of the persons named above against any liability arising from their service to the CDA or any other legal entity at the request of the CDA regardless of the CDA's power to indemnify against such liability. The provisions of this Article shall not be deemed to preclude the CDA from entering into contracts otherwise permitted by law with any individuals or legal entities, including those named above. If any provision of this Article or its application to any person or circumstance is held invalid by a court of competent jurisdiction, the invalidity shall not affect other provisions or applications of this Article, and to this end the provisions of this Article are severable.

(f) No amendment, modification or repeal of this Article shall diminish the rights provided hereunder to any person arising from conduct or events occurring before the adoption of such amendment, modification or repeal.

 

 

 

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]


IN WITNESS WHEREOF, the undersigned incorporator has executed these Articles of Incorporation as of the ____ day of __________, 2006, as duly authorized by the City Council of the City of Hampton, Virginia by Ordinance adopted February 22, 2006.

By:_______________________________________

Jesse T. Wallace, Jr., City Manager, City of Hampton, Virginia

 

 

 

 

Exhibits:

A Names and Addresses of Initial Members

B Description of Initial CDA District Boundaries

C Petition


 

Exhibit A to Articles of Incorporation

 

 

Proposed Initial CDA Board Members

 

Name

Address

Telephone Number

Email Address

 

 

 

 

Benjamin A WIlliams III

President & CEO

 

Noland Properties, Inc.

Suite 2400

2700 Washington Ave.

Newport News, VA  23607

Tel: 757-928-9000

         Ext. 1203

Fax:   757-247-8205

 

benwilliams@noland.com

 

 

 

 

Jack L. Ezzell, Jr.

President

 

ZEL Technologies

55 West Queens Way,

Suite 208

Hampton, VA  23669

Tel:  757-722-5565

Fax:  757-722-8516

 

jack.ezzell@zeltech.com

 

 

 

 

 

Pamela B. Lawson

Executive Vice

President and CFO

Lockwood Broadcasting

220 Salters Creek Road

Hampton, VA  23661

Tel:  757-722-9736

Fax: 757-726-0196

 

plawson@cavtel.net

 

 

 

 

Judy Carr

Vice President

 

Towne Bank

1 Old Oyster Point Road

Newport News, VA  23602

 

Tel:  757-249-7622

Fax:  757-249-7600

 

judy.carr@townebank.net

 

 

 

 

 

Jesse Wallace

City Manager

22 Lincoln Street, 8th Floor

Hampton, VA 23669

Tel: 757-727-6392

Fax: 757-728-3037

jwallace@hampton.gov

 

 

 

Proposed Initial Alternate CDA Board Member

 

Name

Address

Telephone Number

Email Address

 

 

 

 

Scott L. Seymour

100 Columbia Avenue
Hampton, VA 23669

 

Tel: 757-624-3113

Fax: 757-624-3169

 

lsseymour@kaufcan.com

 


Exhibit B to Articles of Incorporation

Description of Initial Community Development Authority Boundaries

 

 

Property Owner

Parcel Name

City of Hampton

Tax ID

Square Feet

Acreage

Bagwell Investments, L.L.C.

Parcel A

(Includes Parcel A-2)

07F0010000000A

30,440

0.699

Bagwell Investments, L.L.C.

Parcel A-2

07F0010000000APC2

Parcel is Part of Parcel A, above

Bagwell Investments, L.L.C.

Parcel B

07F0010000000B

30,000

0.689

Bagwell Investments, L.L.C.

Parcel C

07F0010000000C

20,724

0.476

J.C. Penney Properties, Inc.

Lot 1

07F0010000001

555,896

12.762

Hampton Mall Associates

Lot 2 (Includes Leasehold)

07F0010000002

469,448

10.777

Hampton Mall Associates

Lot 3

07F0010000003

36,077

0.828

Hampton Mall Associates

Lot 4 (Includes Lot 4-A

& Lot 4-B)

07F0010000004

1,042,769

23.298

Hampton Mall Associates

Lot 5

07F0010000005

20,440

0.469

J.C. Penney Properties, Inc.

Lot 6

07F0010000006

91,603

2.103

Hampton Mall Associates

Lot 7

07F0010000007

233,218

5.354

Hampton Mall Associates

Lot 8

07F0010000008

21,700

0.498

Hampton Mall Associates

Lot 9 (Include Parcel 9A)

07F0010000009

771,648

17.714

Hampton Mall Associates

Lot 9A

07F0010000009A

Included in Parcel 9, above

Bagwell Investments, L.L.C.

Lot 10

07F0010000000PCB

28,440

0.653

Parcel A-2 only appears on the assessment maps. No evidence of property being two parcels

Parcel 9A is the footprint of the existing Hecht's Department Store (D.B. 503 Pg. 674)

 

 

 

 

 

 

 


Exhibit C to Articles of Incorporation

PETITION

FOR THE CREATION OF THE PENINSULA TOWN CENTER

COMMUNITY DEVELOPMENT AUTHORITY

TO THE CITY COUNCIL OF THE

CITY OF HAMPTON, VIRGINIA

November 9, 2005

WHEREAS, the undersigned (the "Petitioner") is the owner of certain parcels of land in the City of Hampton, Virginia (the "City"), containing approximately 76.32 acres, as more particularly described on Exhibit "A" attached hereto;

WHEREAS, Petitioner desires to develop such property as a pedestrian friendly mixed use, town center development with commercial and residential uses designed with new urbanism planning and architectural principles, including a network of connected public streets and urban park sites and other public improvements which will benefit the citizens of the City and will increase commercial, housing and recreational opportunities and expand the City's tax base;

WHEREAS, the Petitioner proposes to create a community development authority as permitted under Virginia Code Sections 15.2-5152, et seq., and other applicable provisions of Chapter 51, Title 15.2 of the Code of Virginia of 1950, as amended (the "Act"), to provide financing for certain public improvements necessary to meet the increased demands placed upon the City as a result of development within the community development authority district.

NOW, THEREFORE, Petitioner respectfully requests that the City Council of the City of Hampton (the "City Council") adopt an ordinance creating the Peninsula Town Center Community Development Authority (the "CDA") pursuant to the provisions of the Act, and in support of such request, Petitioner represents and states as follows:

1. Standing and Jurisdiction. Petitioner is currently the owner of more than 51% of the real estate to be included in the community development authority. All such real estate is located wholly within the City.

2. Name and Boundaries of the Proposed District. Petitioner requests that the City Council create the CDA pursuant to the authority granted in the Act. The boundaries of the CDA district (the "District") will be as described on Exhibit "A" attached hereto as such boundaries may be modified by the City Council upon request of the Petitioner. The District will be entitled the Peninsula Town Center Community Development Authority District. A conceptual plan of development within the District is attached hereto and incorporated herein as Exhibit "B".

3. Services and Facilities to be Undertaken by the CDA. The CDA will undertake to finance, acquire and construct certain public improvements pursuant to Section 15.2-5158 of the Act, as generally described on Exhibit "C" attached hereto and incorporated herein (the "Improvements") and may undertake to provide such other facilities and services as are permitted by the Act. All Improvements will be constructed in accordance with applicable governmental standards after obtaining all necessary permits and approvals therefor.

4. Proposed Plan for Providing and Financing the Improvements.

A.     The CDA will issue bonds in one or more series (the "Bonds") to finance all or a portion of the Improvements shown on Exhibit "C" under the authority of the Act, specifically Virginia Code Sections 15.2-5158 and 15.2-5125 as those Sections may be amended. The Bonds will be issued in one or more series in an amount sufficient to pay the costs of the Improvements, the costs of issuing the Bonds, any debt service reserves and interest on the Bonds during acquisition and construction of the Improvements and for a period of approximately two years after completion of construction. The CDA's revenue bonds shall not constitute a pledge of the full faith and credit of the City, nor shall they be an obligation of the City or the Petitioner but shall be payable solely from the revenues received by the CDA. In no event will land or real property assets outside the District be taxed or assessed to make payments on the revenue bonds.

B.     The Petitioner proposes that the CDA request the City Council to establish a special ad valorem real estate tax and a special assessment upon the property within the District to finance the Improvements as provided in Virginia Code Section 15.2-5158(A)(3) and (A)(5).

C.     The Petitioner proposes that the CDA and the City enter into an agreement whereby the City will pay to the CDA certain incremental increases in tax revenues generated within an area to be designated by the City in amounts and from sources to be approved by the City.

D.     The CDA or its designee will contract for the construction of the Improvements and for their operation and maintenance until such time as the Improvements are conveyed to or dedicated and accepted by the applicable governmental entity or until such time as the responsibility for operation and maintenance is assumed by another entity in accordance with applicable laws and regulations.

5. Benefits from CDA Construction of Facilities. Petitioner represents that the following benefits are expected to be derived from the construction of the Improvements by the CDA:

E.                  The proposed Improvements and services to be undertaken by the CDA will support commercial and residential growth in an urban setting to serve the citizens of the City, will support a wider range of commercial facility and housing options and will promote economic development and redevelopment in the City by attracting residents and will generate additional tax revenues for the City.

F.                  The redevelopment and development supported by the Improvements is expected to diversify and increase the City's tax base.

G.                 The financing of the Improvements by the CDA will provide needed public improvements such as a network of connected roads, parking facilities, curbs, gutters, sidewalks, storm water management and retention systems, parks, street lights, landscaping improvements, recreational facilities, and other such improvements as permitted in the Act, and will permit such improvements to be constructed more expeditiously than would otherwise be possible.

H.                 The creation of the CDA is in the interests of the residents and owners of the property within the District and in furtherance of their public health, safety and general welfare.

6. CDA Board Members. The members of the Board of the CDA shall be selected under the applicable provisions of Virginia Code Section 15.2-5113. The Petitioner recommends the persons on the attached Exhibit "D" to be appointed by the City Council to serve as the initial members of the CDA Board.

7. Memorandum of Understanding. The Petitioner understands and agrees that prior to the issuance of any revenue bonds by the CDA, the policy adopted by the City Council requires that the CDA and the City enter into a Memorandum of Understanding to the City specifying a plan of finance which will include: a development plan of the District, proposed District projects and improvements, including estimated costs; a preliminary feasibility study; a schedule of proposed revenue bond financings together with their purpose and estimated amounts; a plan of finance structure, including the sources of repayment of the revenue bonds; a methodology for the determination of the special assessment in the District; information concerning the Petitioner, including any previous involvement with special assessment districts within the Commonwealth of Virginia and elsewhere; the Petitioner's equity contribution, excluding land, the District's overall debt structure; and assurances that the CDA's revenue bonds will not constitute a pledge of the full faith and credit of the City, nor shall they be an obligation of the City but shall be payable solely from revenues received by the CDA. The Petitioner agrees that the City may require that the Petitioner pay the City's costs for legal, financial and engineering review and analysis with respect to the Improvements and the finance plan described in this Petition.

Respectfully submitted,

 

PETITIONER:

 

 

HAMPTON MALL ASSOCIATES

 

By:

 

Its:

 

 

 

Approved as to Form:

 

 

___________________

City Attorney

 

 

 

 

 

 

 

 

 

Exhibits:

A - Description of Community Development Authority Boundaries

B - Conceptual Plan of Development

C - Preliminary Description of Improvements

D - Proposed Initial CDA Board Members


EXHIBIT A TO PETITION

 

 

Description of Community Development Authority Boundaries

 

 

Property Owner

Parcel Name

City of Hampton

Tax ID

Square Feet

Acreage

Bagwell Investments, L.L.C.

Parcel A

(Includes Parcel A-2)

07F0010000000A

30,440

0.699

Bagwell Investments, L.L.C.

Parcel A-2

07F0010000000APC2

Parcel is Part of Parcel A, above

Bagwell Investments, L.L.C.

Parcel B

07F0010000000B

30,000

0.689

Bagwell Investments, L.L.C.

Parcel C

07F0010000000C

20,724

0.476

J.C. Penney Properties, Inc.

Lot 1

07F0010000001

555,896

12.762

Hampton Mall Associates

Lot 2 (Includes Leasehold)

07F0010000002

469,448

10.777

Hampton Mall Associates

Lot 3

07F0010000003

36,077

0.828

Hampton Mall Associates

Lot 4 (Includes Lot 4-A

& Lot 4-B)

07F0010000004

1,042,769

23.298

Hampton Mall Associates

Lot 5

07F0010000005

20,440

0.469

J.C. Penney Properties, Inc.

Lot 6

07F0010000006

91,603

2.103

Hampton Mall Associates

Lot 7

07F0010000007

233,218

5.354

Hampton Mall Associates

Lot 8

07F0010000008

21,700

0.498

Hampton Mall Associates

Lot 9 (Include Parcel 9A)

07F0010000009

771,648

17.714

Hampton Mall Associates

Lot 9A

07F0010000009A

Included in Parcel 9, above

Bagwell Investments, L.L.C.

Lot 10

07F0010000000PCB

28,440

0.653

Parcel A-2 only appears on the assessment maps. No evidence of property being two parcels

Parcel 9A is the footprint of the existing Hecht's Department Store (D.B. 503 Pg. 674)

 


EXHIBIT B TO PETITION

 

Conceptual Plan of Development



 

EXHIBIT C TO PETITION

 

Preliminary Description of Improvements

PUBLIC IMPROVEMENTS

 

Improvements

 

Estimated Cost

Land

 

R.O.W./Land for Public Purpose

$27,600,000

Relocation/Condemnation

$  5,205,000

 

$32,805,000

Site Work

 

Site Demolition

$1,781,768

Building Demolition

$0

Water

$733,665

Storm Sewer

$897,858

Sanitary

$303,388

Electrical Ductbank

$742,558

Communications Ductbank

$450,969

Natural Gas

$0

Utility Relocations

$1,633,650

Miscellaneous

$   332,094

 

$6,875,950

Vertical Construction

 

North Parking Structure

$  9,912,220

South Parking Structure

$  5,551,337

 

$15,463,557

Site Improvements

 

Fine Grading

$94,424

Traffic Control

$80,654

Street Paving

$701,607

Curbs

$321,348

Landscape

$624,135

Tree Pits

$747,503

Irrigation

$358,417

Childrens Park

$548,460

Central Park

$1,624,536

Public Amenities

$145,133

Parking Meters

$160,298

Sidewalks

$945,392

Site Lighting

$960,440

Miscellaneous

   $  45,976

 

$7,358,323

Planning/Design/Engineering

 

Design Development

$   181,500

Construction Architect

$   577,500

Civil Engineer

$   577,500

 

$1,336,500

Contingency

$1,663,370

Total Public Work

$65,502,700

 


EXHIBIT D TO PETITION

 

 

Proposed Initial CDA Board Members

 

Name

Address

Telephone Number

Email Address

 

 

 

 

Benjamin A WIlliams III

President & CEO

 

Noland Properties, Inc.

Suite 2400

2700 Washington Ave.

Newport News, VA  23607

Tel: 757-928-9000

         Ext. 1203

Fax:   757-247-8205

 

benwilliams@noland.com

 

 

 

 

Jack L. Ezzell, Jr.

President

 

ZEL Technologies

55 West Queens Way,

Suite 208

Hampton, VA  23669

Tel:  757-722-5565

Fax:  757-722-8516

 

jack.ezzell@zeltech.com

 

 

 

 

 

Pamela B. Lawson

Executive Vice

President and CFO

Lockwood Broadcasting

220 Salters Creek Road

Hampton, VA  23661

Tel:  757-722-9736

Fax: 757-726-0196

 

plawson@cavtel.net

 

 

 

 

Judy Carr

Vice President

 

Towne Bank

1 Old Oyster Point Road

Newport News, VA  23602

 

Tel:  757-249-7622

Fax:  757-249-7600

 

judy.carr@townebank.net

 

 

 

 

 

Jesse Wallace

City Manager

22 Lincoln Street, 8th Floor

Hampton, VA 23669

Tel: 757-727-6392

Fax: 757-728-3037

jwallace@hampton.gov

 

 

 

Proposed Initial Alternate CDA Board Member

 

Name

Address

Telephone Number

Email Address

 

 

 

 

Scott L. Seymour

100 Columbia Avenue
Hampton, VA 23669

 

Tel: 757-624-3113

Fax: 757-624-3169

 

lsseymour@kaufcan.com

 

 

 

 

 

 

 

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