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File #: ORD. 2021-025    Version: 1 Name:
Type: Ordinance Status: Adopted
File created: 2/9/2021 In control: City Council
On agenda: 3/1/2021 Final action: 3/1/2021
Title: To direct the sale of the City-owned real estate located at 500 North 10th Street and known as the Public Safety Building to Capital City Partners, LLC, for $3,520,456.00 for the purpose of facilitating the redevelopment thereof.
Patrons: Mayor Stoney
Attachments: 1. Ord. No. 2021-025, 2. Staff Report, 3. Exhibit, 4. Map, 5. Letters of Support, 6. Letters of Support, 7. Letter of Support, 8. Staff Presentation
Title
To direct the sale of the City-owned real estate located at 500 North 10th Street and known as the Public Safety Building to Capital City Partners, LLC, for $3,520,456.00 for the purpose of facilitating the redevelopment thereof.
Body
WHEREAS, by Resolution No. 2020-R034, adopted June 22, 2020, in accordance with section 8-60 of the Code of the City of Richmond (2020), as amended, the City-owned real estate known as 500 North 10th Street and identified as Tax Parcel No. E000-0235/001 in the 2021 records of the City Assessor was declared surplus real estate and the Chief Administrative Officer was authorized to seek proposals for its sale pursuant to section 8-62 of the Code of the City of Richmond (2020), as amended, and other applicable provisions of Chapter 8, Article III of the Code of the City of Richmond (2020), as amended;
NOW, THEREFORE,
THE CITY OF RICHMOND HEREBY ORDAINS:
? 1. That the City-owned real estate known as 500 North 10th Street and identified as Tax Parcel No. E000-0235/001 in the 2021 records of the City Assessor, being hereinafter referred to as the "Property," is hereby directed to be sold to Capital City Partners, LLC, for $3,520,456.00 for the purpose of facilitating the redevelopment of the Property, notwithstanding any provision to the contrary of Chapter 8 of the Code of the City of Richmond (2020), as amended, but otherwise in accordance with the applicable provisions of Chapter 8 of the Code of the City of Richmond (2020), as amended, the Code of Virginia (1950), as amended, the Charter of the City of Richmond (2020), as amended, and the Constitution of Virginia.
? 2. That the sale of the Property shall be conditioned on the satisfaction of all conditions precedent and other conditions applicable thereto set forth in a development agreement authorized by Ordinance No. 2021-______, adopted _______________________ ______, 20____, hereinafter referred to as the "Development Agreement," and any document refer...

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