File #: RES. 2024-R042    Version: 1 Name:
Type: Resolution Status: Consent Agenda
File created: 12/10/2024 In control: City Council
On agenda: 1/13/2025 Final action:
Title: To express support for the conveyance of the property located at 2911 North Arthur Ashe Boulevard from Virginia Commonwealth University to the Economic Development Authority of the City of Richmond, for the purpose of facilitating the continued construction and operation of the Diamond District Redevelopment Project. (2nd District)
Patrons: Mayor Stoney
Attachments: 1. Res. No. 2024-R042
title
To express support for the conveyance of the property located at 2911 North Arthur Ashe Boulevard from Virginia Commonwealth University to the Economic Development Authority of the City of Richmond, for the purpose of facilitating the continued construction and operation of the Diamond District Redevelopment Project. (2nd District)

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WHEREAS, pursuant to Ordinance No. 97-242-249, adopted July 28, 1997, the City conveyed the property located at 2911 North Arthur Ashe Boulevard and identified as Tax Parcel No. N000-1510/001 (the "Sports Backers Parcel"), in the 2024 records of the City Assessor, to Virginia Commonwealth University ("VCU"), by Special Warranty Deed, dated July 20, 1998, and recorded in the land records of the Circuit Court of the City of Richmond on August 7, 1998 as Instrument No. 98-20854 (the "Deed"), for the purpose of facilitating the construction and operation of Sports Backers Stadium; and
WHEREAS, the Deed restricts VCU's ability to convey the Sports Backers Parcel without the City's consent to such conveyance; and
WHEREAS, pursuant to Ordinance No. 2024-113, adopted May 8, 2024, the Diamond District Redevelopment Project Purchase and Sale and Development Agreement by and between the City, Diamond District Partners, LLC, and the Economic Development Authority of the City of Richmond, Virginia (the "EDA") dated May 15, 2024 (the "PSDA") provides that "subject to all necessary authorizations and approvals, the EDA shall acquire the Sports Backers Parcel from [VCU]"; and
WHEREAS, in furtherance of the Diamond District Redevelopment Project, the Council supports the conveyance of the Sports Backers Parcel from VCU to the EDA, as contemplated by the PSDA;
NOW, THEREFORE,
BE IT RESOLVED BY THE COUNCIL FOR THE CITY OF RICHMOND:
That the Council hereby expresses it support for the conveyance of the property located at 2911 North Arthur Ashe Boulevard from Virginia Commonwealth University to the Economic Dev...

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