HomeMy Public PortalAbout1983_10_12_O030The Town of Leesburg in Virginia
ORDINANCE NO.
AN ORDINANCE:
PRESENTED October 12~ 1983
83-0-30 ADOPTED October 12, 1983
APPROVING DEED OF LEASE AND DEVELOPMENT AGREEMENT WITMMARKET
SQUARE ASSOCIATES, INC.
WHEREAS, the town received a $1.35 million community development block grant
in 1981, of which a major element is redevelopment of vacant land in the South
Harrison Street neighborhood; and
WHEREAS, on November 11, 1982 the town advertised for development proposals
for the Sollars/Bryant tract; and
WHEREAS, three letters of interest were received by the town on December 13,
1982; and
WHEREAS, the town received a formal proposal from the Market Station Partner-
ship (predecessor to Market Square Associates, Inc.) dated February 11, 1983; and
WHEREAS, the town entered into negotiations with representatiw~s of Market
Station Partnership in March, 1983 resulting in a proposed lease and development
agreement; and
WHEREAS, Section 15.1-18 of the Code of Virginia of 1950 permits the Town
Council to purchase land and lease or sell it to any person or business with such
terms and conditions as it may attach; and
WHEREAS, Section 15.1-29.7 of the Code of Virginia of 1950 authorizes the
town to participate in the community development block grant program and enter into
any eligible community development activity; and
WHEREAS, economic development is an eligible activity under the community
development block grant program and all provisions of the development agreement
are eligible economic activities; and
WHEREAS, a part of the premises was acquired pursuant to Sec. 15.1-275 of the
Code of Virginia of 1950 and the lease and possible sale thereof will protect the
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DEED OF LEASE AND DEVELOPMENT AGREEMENT WITH MARKET SQUARE ASSOCIATES, INC.
beauty, usefulness, efficiency and convenience of the remaining public streets
and parking lot:
THEREFORE, ORDAINED by the Council of the Town of Leesburg in Virginia as
follows:
SECTION I. The deed of lease and the develQpment agreement between the
Town of Leesburg in Virginia, landlord, and Market Square Associates, Inc.,
tenant, dated October 13, 1983, is approved and the manager shall execute the
agreement on behalf of the town.
SECTION II. This ordinance shall be effective upon submission by Market
Square Associates, Inc. '~f the following documents in a form satisfactory to the
town attorney:
a.
b.
PASSED this
Articles of incorporation of Market Square Associates, Inc.
List of the officers and shareholders of Market Square Associates,
Inc.
A certified copy of a resolution by the Board of Directors of
Market Square Associates, Inc. authorizing the lease and desig-
nating the officers empowered to execute the lease on behalf of
the corporation.
Evidence of current registration of the corporation.
12th day of October
ATTEST:
Clerk of C~ncil
, 1983.
Town of Leesburg