This page was read by OCR. Text can misread numbers, dates or table columns. Check the PDF before quoting or interpreting it. Redacted areas remain redacted.
5E
NEWPORT NEWS REDEVELOPMENT AND HOUSING AUTHORITY
MEMORANDUM
DATE: March 17, 2026
TO: All Members, Board of Commissioners
FROM: Lysandra M. Shaw, Executive Director YH
SUBJECT: Approval of Operating Agreement and Organization for Orcutt TH 30, LLC
In January 2026, the NNRHA Board of Directors took the necessary action to form the
Orcutt TH 30, LLC. This successor limited partner needed to be created to replace the
current investor partners in the Orcutt Townhomes III, LLC.
As required by Title 36 of the Commonwealth of Virginia, the Newport News City Council
was requested to consent to the formation of the Orcutt TH 30, LLC. That action was
taken by the City Council at their February 24, 2026 meeting. Mr. Suttle has prepared
the attached Operating Agreement for Orcutt TH 30, LLC. It addresses organizational
matters to include membership, meetings, management, liability and accounting and tax
matters.
NNRHA will be the member of the Orcutt TH 30, LLC, which will own 99.99% of the Orcutt
Townhomes III, LLC.
| recommend adoption of the attached resolution which approves the Operating
Agreement and the appointment of the NNRHA Executive Director as President of the
LLC.Jump to an indexed page (65 of 65)