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PPIC approves May minutes and extends Burton Point Road inspection period to July 23
Summary
The Portsouth Port and Industrial Commission approved May 2026 minutes and adopted a resolution extending the inspection/due‑diligence period for the 3920/3930 Burton Point Road sale to July 23, 2026; both actions passed by roll call, 4–0.
At its June 23 meeting the Portsouth Port and Industrial Commission conducted two formal roll‑call votes. Commissioners approved the May 2026 meeting minutes by voice and roll call (vote recorded as Mr. Hansen, Mr. Peterman, Mr. Rice and Miss Allen — 4 yes, 0 no).
Later in the meeting staff updated the commission on the planned sale of property at 3920/3930 Burton Point Road to Stonemont Financial Group. Staff reported title and environmental due diligence remain in progress and that the buyer requested an additional 30 days to resolve title matters. Deputy city attorney Jeff Miller presented a prepared resolution authorizing the chair and vice chair to execute an amendment extending the inspection/due‑diligence period through July 23, 2026, and authorizing related closing documents. The commission adopted the resolution by roll‑call vote, 4–0 (Hansen, Peterman, Rice, Allen voting yes). The resolution took immediate effect upon adoption.
No amendments were offered on the floor. Staff indicated the extension is intended to permit Dominion Virginia Power (East) and the developer to finalize easement revisions and other title matters ahead of closing.
